APD US --> No Pre market for the moment
Air Products beats by $0.01, misses on revs; guides Q2 EPS below consensus; reaffirms FY14 EPS guidance
Reports Q1 (Dec) earnings of $1.34 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $1.33; revenues fell 0.7% year/year to $2.55 bln vs the $2.58 bln consensus on slightly lower volumes and stable pricing, partially offset by higher energy pass-through. Volumes were higher in Merchant Gases, Electronics and Performance Materials, and Equipment and Energy, while refinery customer outages impacted volumes in the Tonnage Gases segment. Underlying sales, excluding the exit from the Polyurethane Intermediates Business (PUI), decreased one percent.
Co issues downside guidance for Q2, sees EPS of $1.32-1.37, excluding non-recurring items, vs. $1.43 Capital IQ Consensus Estimate.
Co reaffirms guidance for FY14, sees EPS of $5.70-5.90, excluding non-recurring items, vs. $5.83 Capital IQ Consensus Estimate.
"We still see greater momentum in the second half of the year. Full year performance remains on track and we expect to drive earnings growth by continuing to focus on our priorities -- improved asset utilization, productivity and cost reduction, winning in the marketplace and disciplined project execution."
Co issues downside guidance for Q2, sees EPS of $1.32-1.37, excluding non-recurring items, vs. $1.43 Capital IQ Consensus Estimate.
Co reaffirms guidance for FY14, sees EPS of $5.70-5.90, excluding non-recurring items, vs. $5.83 Capital IQ Consensus Estimate.
"We still see greater momentum in the second half of the year. Full year performance remains on track and we expect to drive earnings growth by continuing to focus on our priorities -- improved asset utilization, productivity and cost reduction, winning in the marketplace and disciplined project execution."