Air Products Guides FY Adj EPS to $13.39-$13.49, Setting the Bar for Recovery
APD sits 30% above its 52-week low of $229.11.
Summary
Air Products issued full-year adjusted EPS guidance of $13.39 to $13.49, the first concrete profit target since the June 30 announcement of up to $2.9 billion in charges tied to exiting major clean energy projects. The forecast gives investors a baseline to gauge the financial impact of the restructuring and the underlying business's earnings power. The range implies a sharp second-half rebound after the Q3 charge, but the market will need to see execution on the remaining portfolio. The guidance follows the July 21 long-term supply agreement for semiconductor gases, a smaller positive offset to the project cancellations.
At the time of this announcement, APD was trading at $298.50 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $65.5B. The 52-week trading range was $229.11 to $314.87. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.