Why Air Products & Chemicals Stock Is Plunging Today
Portfolio Pulse from Akanksha Bakshi
Air Products & Chemicals Inc (NYSE:APD) reported a Q4 FY23 adjusted EPS increase of 11% YoY to $3.15, beating consensus estimates. However, sales declined by 11% YoY to $3.19 billion, missing consensus estimates. The company expects an adjusted EPS of $12.80-$13.10 for FY24. APD shares are trading lower by 10.8% at $259.74.
November 07, 2023 | 3:14 pm
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NEGATIVE IMPACT
Air Products & Chemicals reported Q4 FY23 earnings with EPS beating estimates but sales missing. The stock is down 10.8%.
Despite beating EPS estimates, APD's sales missed consensus estimates, which likely contributed to the stock's decline. The company's FY24 EPS outlook is also within the range of consensus estimates, which may not be enough to offset the negative sentiment from the sales miss.
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IMPORTANCE 80
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