By Dean Seal
Air Products and Chemicals cut its earnings outlook for the year as lower volumes and higher costs pressured results in its fiscal second quarter.
The provider of essential industrial gasses and chemicals said it now expects adjusted earnings of $11.85 to $12.15 a share for the year, instead of $12.70 to $13 a share as previously projected. It expects $2.90 to $3 a share for the current fiscal third quarter, below analyst estimates for $3.27 a share.
The stock fell 4.1% to $259.95 in premarket trading.
For the first three months of 2025, the company posted a loss of $1.73 billion, or $7.77 a share, compared with a profit of $572.4 million, or $2.57 a share, in the same quarter a year earlier.
The shortfall was driven by a $2.3 billion after-tax charge related to project cancellations, cost-reduction measures and other strategic moves during the quarter.
Stripping out one-time items, adjusted earnings were $2.69 a share. Analysts surveyed by FactSet had been expecting $2.83 a share.
Revenue came in flat year-over-year at $2.9 billion, under analyst estimates for $2.92 billion, according to FactSet. Gains from energy cost pass-through and higher pricing were offset by foreign currency effects and lower volumes, largely from the divestiture of its liquefied natural gas business to Honeywell.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 01, 2025 06:25 ET (10:25 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。