(Boursier.com) — Air Products & Chemicals, the American specialist in industrial and medical gases, published for its first fiscal quarter 2024 adjusted earnings per share of $2.82, up 7%, adjusted Ebitda of $1.2 billion, up 8% and an adjusted Ebitda margin of 39.2%, up 510 basis points. Sales for the quarter totaled nearly $3 billion, compared to $3.17 billion in the comparable period last year. The group’s share of net profit was 609 million dollars compared to 572 million a year before. The group therefore misses the consensus adjusted earnings per share and revenues for the closed quarter. Guidance for the fiscal second quarter is also disappointing. The 2024 profit outlook is finally lower than market expectations, with the group anticipating adjusted earnings per share ranging from $12.2 to $12.5, an increase of 6 to 9%. Second quarter adjusted EPS is expected to be between $2.60 and $2.75.
Announcements cause the stock to fall Air Products 8% before market on Wall Street. In the area, Liquid air drops 1.6% due to sectoral contagion, while Linde lost 1.4% in pre-session on the Nasdaq.
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