Compared to Estimates, Air Products and Chemicals (APD) Q3 Earnings: A Look at Key Metrics

Core Insights - Air Products and Chemicals reported revenue of $2.99 billion for the quarter ended June 2024, a decrease of 1.6% year-over-year, with EPS at $3.20 compared to $2.98 in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of $3.04 billion, resulting in a surprise of -1.79%, while the EPS exceeded expectations by 5.26% [1] Revenue Performance by Segment - Revenue from Industrial Gases in the Middle East and India was $32.80 million, significantly below the estimated $38.39 million, reflecting a year-over-year decline of 17.4% [3] - Revenue from Industrial Gases in the Americas was $1.23 billion, slightly below the average estimate of $1.24 billion, marking a year-over-year decrease of 2.1% [4] - Revenue from Industrial Gases in Europe reached $693.40 million, surpassing the estimated $682.37 million, but still showing a year-over-year decline of 1.9% [5] - Revenue from Industrial Gases in Asia was $789.60 million, below the average estimate of $818.21 million, indicating a year-over-year decrease of 4.1% [6] - Revenue from Corporate and other segments was $235 million, exceeding the estimated $230.80 million, with a year-over-year increase of 15.2% [7] Stock Performance - Shares of Air Products and Chemicals have increased by 4.3% over the past month, outperforming the Zacks S&P 500 composite, which rose by 1.1% [7]