Why Is Air Products And Chemicals Stock Sinking Today?



Air Products & Chemicals Inc (NYSE:APD) reported first-quarter 2024 adjusted EPS of $2.82, up 7% year-over-year, missing the consensus of $3.00.

Sales declined 5.6% YoY to $2.997 billion, missing the consensus of $3.19 billion due to lower energy cost pass-through (-11% Y/Y).

Sales by segments: Americas $1.25 billion (-10% Y/Y) and Europe $731.2 million (-8% Y/Y), while Asia sales rose by 2% Y/Y to $793.8 million.

Operating profit rose 2.3% Y/Y to $667 million, and …

Full story available on Benzinga.com


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