Air Products beats by $0.08, beats on revs; guides Q1 EPS in-line; guides FY18 EPS in-line (154.59)
- Reports Q4 (Sep) earnings of $1.76 per share, $0.08 better than the Capital IQ Consensus of $1.68; revenues rose 13.2% year/year to $2.2 bln vs the $2.12 bln Capital IQ Consensus on nine percent higher volumes, two percent higher pricing, and favorable energy pass-through and currency of one percent each. Volumes were higher in all three Industrial Gas regions.
- Co issues in-line guidance for Q1, sees EPS of $1.60-1.70, excluding non-recurring items, vs. $1.65 Capital IQ Consensus Estimate.
- Co issues in-line guidance for FY18, sees EPS of $6.85-7.05, excluding non-recurring items, vs. $6.91 Capital IQ Consensus Estimate.
- "We continue to be optimistic about the future performance of Air Products and the opportunities we see in front of us. We have the strongest balance sheet in the industry, with over $8 billion available to invest over the next three years. We remain confident in our ability to create shareholder value by deploying this capital through acquisitions, asset buybacks and very large industrial gas projects around the world, driven by demand for more energy, cleaner energy and emerging market growth. We are committed to delivering excellent short-term and long-term performance by improving our adjusted EPS by 10 percent every year, as we have done in the past three years."