Air Products Q2 Misses Street, Sees Q2 Earnings Below Market, Cuts FY25 View; Stock Down

(RTTNews) - Air Products And Chemicals Inc. (APD) reported Thursday a hefty loss in its second quarter, compared to prior year's profit, hit by a charge, amid slightly lower sales. Adjusted earnings and sales missed market estimates.

Further, the company issued third-quarter earnings view, and lowered fiscal 2025 forecast, both below the market estimates.

In pre-market activity on the NYSE, Air Products shares were losing around 7 percent to trade at $252.00.

For the third quarter, Air Products projects adjusted earnings per share of $2.90 to $3.00.

The Wall Street analysts on average expect the company to report earnings of $3.28 per share. Analysts' estimates typically exclude special items.

Further, for fiscal 2025, the company now projects adjusted earnings per share in the range of $11.85 to $12.15, lower than previous estimate of $12.70 to $13.00 per share. Analysts expect $12.51 per share in earnings for the year.

Air Products expects capital expenditures of approximately $5 billion for full-year fiscal 2025.

In its second quarter, the company recorded a net loss of $1.73 billion or $7.77 per share, compared to prior year's earnings of $572.4 million or $2.57 per share.

These results were driven by an after-tax charge attributable to Air Products of $2.3 billion or $10.28 per share related to strategic business and asset actions, including project cancellations and other cost reduction measures taken during the second quarter.

Adjusted earnings were $598.5 million or $2.69 per share, compared to $635.1 million or $2.85 per share a year ago. The Street was looking for earnings of $2.83 per share.

Second-quarter sales edged down to $2.916 billion from $2.930 billion last year, while analysts expected $2.93 billion.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.