Air Products Forecasts Higher Adjusted Profit in FY24
07 November 2023 - 10:53PM
Dow Jones News
By Dean Seal
Air Products & Chemicals expects to log higher adjusted
earnings in fiscal 2024.
The Allentown, Pa.-based provider of essential industrial gases
and chemicals expects adjusted earnings, which strip out one-time
items, of $12.80 to $13.10 a share for fiscal 2024, up about 13% at
the midpoint from its fiscal 2023 figure. Analysts surveyed by
FactSet had been expecting $12.84 a share.
For the fiscal first quarter that started Oct. 1, adjusted
earnings are projected to be $2.90 to $3.05 a share, up 13% at the
midpoint and in line with analyst forecasts for $3 a share,
according to FactSet.
The company expects capital expenditures of $5 billion to $5.5
billion. In fiscal 2023, it was $5.22 billion.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
November 07, 2023 06:38 ET (11:38 GMT)
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