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Investing.com -- Air Products (NYSE:APD) on Thursday reported better-than-expected third-quarter fiscal 2025 results on Thursday, with adjusted earnings per share exceeding analyst estimates despite challenges in certain segments.
The industrial gases company posted adjusted earnings of $3.09 per share, surpassing the analyst consensus of $2.98.
Revenue came in at $3.02 billion, slightly above the $2.98 billion estimate and up 1% from the same period last year. The revenue increase was driven by 3% higher energy cost pass-through, 1% higher pricing, and 1% favorable currency, partially offset by 4% lower volumes.
"The Air Products team delivered solid results this quarter that exceeded guidance and were higher than last year on a comparable basis, excluding the impact of the LNG sale," said Chief Executive Officer Eduardo Menezes.
"We are staying focused on our cost productivity efforts, pricing, operational excellence and capital discipline."
The company’s GAAP earnings per share increased 4% to $3.24, while GAAP operating income rose 7% to $791 million compared to the prior year.
However, adjusted operating income remained flat at $741 million as higher on-sites, improved non-helium pricing, and lower costs were largely offset by the September 2024 LNG sale, lower global helium demand, and project exits.
By segment, Europe showed the strongest performance with sales increasing 11% YoY to $771 million and operating income rising 10% to $225 million.
Asia sales grew 3% to $810 million with operating income up 8% to $217 million. Americas sales increased 2% to $1.3 billion, though operating income declined 4% to $374 million.
Air Products revised its full-year fiscal 2025 adjusted EPS guidance to a range of $11.90 to $12.10 and provided fourth-quarter adjusted EPS guidance of $3.27 to $3.47.
The company expects capital expenditures of approximately $5 billion for the full fiscal year.
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