Air Products beats Q4 earnings estimates but gives downside guidance

|About: Air Products and Chemicals,... (APD)|By:, SA News Editor

Air Products & Chemicals (APD -1.8%) is lower after beating FQ4 earnings estimates by a penny but issuing below consensus guidance for Q1 earnings.

APD forecasts Q1 EPS of $1.85-$1.90 vs. $1.91 analyst consensus estimate, and issues in-line guidance for FY 2019, seeing EPS of $8.05-$8.30 vs. $8.21 consensus.

APD says Q4 sales in its Industrial Gases Americas segment rose 4% Y/Y to $987M, helped by higher volumes and pricing; sales in the Industrial Gases EMEA segment climbed 8% to $555M, mainly due to a significant increase in natural gas prices in India; and Industrial Gases Asia sales jumped 15% to $633M, driven by a 14% increase in volumes.

The company also expects $2.3B-$2.5B in capex for FY 2019.

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