Air Products and Chemicals (APD) Q3 Earnings Beat Estimates

Company Performance - Air Products and Chemicals reported quarterly earnings of $3.20 per share, exceeding the Zacks Consensus Estimate of $3.04 per share, and up from $2.98 per share a year ago, representing an earnings surprise of 5.26% [1] - The company posted revenues of $2.99 billion for the quarter ended June 2024, which was below the Zacks Consensus Estimate by 1.79% and a decrease from $3.03 billion year-over-year [1] - Over the last four quarters, the company has surpassed consensus EPS estimates three times but has not beaten consensus revenue estimates [1] Stock Performance and Outlook - Air Products and Chemicals shares have declined approximately 3.6% since the beginning of the year, contrasting with the S&P 500's gain of 15.8% [2] - The current consensus EPS estimate for the upcoming quarter is $3.50 on revenues of $3.26 billion, and for the current fiscal year, it is $12.26 on revenues of $12.28 billion [4] Industry Context - The Chemical - Diversified industry, to which Air Products and Chemicals belongs, is currently ranked in the bottom 5% of over 250 Zacks industries, indicating potential challenges for stock performance [5] - Another company in the same industry, Innospec, is expected to report quarterly earnings of $1.37 per share, reflecting a year-over-year increase of 7%, with revenues anticipated to be $479.2 million, down 0.3% from the previous year [5][6]