Air Products & Chemicals Narrows EPS Guidance Range

By Ben Glickman

Air Products & Chemicals narrowed the range of its per-share earnings guidance after profit rose but missed estimates in the fiscal third quarter.

The Lehigh Valley, Pa.-based industrial gas and chemical provider said Thursday it now expects full-year adjusted earnings of $11.40 to $11.50 a share, compared with its prior guidance of $11.30 to $11.50 a share. Analysts polled by FactSet expect adjusted EPS of $11.42 a share.

The company said it expects adjusted EPS of $3.04 to $3.14 in the fiscal fourth quarter. Analysts polled by FactSet expect $3.13 a share.

Air Products & Chemicals reaffirmed its full-year outlook for capital expenditures of $5 billion to $5.5 billion.

The company's profit rose to $2.67 a share in the quarter, but missed analysts' estimates of $2.91, according to FactSet.

Write to Ben Glickman at [email protected]

(END) Dow Jones Newswires

08-03-23 0638ET