Air Products shares are trading lower after the company reported worse-than-expected Q1 financial results, lowered FY24 adjusted EPS guidance below estimates and issued Q2 adjusted EPS guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Air Products' shares dropped following disappointing Q1 financial results, with the company also reducing its FY24 adjusted EPS guidance and issuing lower-than-expected Q2 adjusted EPS guidance.
February 05, 2024 | 1:33 pm
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Air Products' shares declined due to poor Q1 financial performance and lowered future earnings guidance.
The negative impact on APD's stock price is directly related to the company's disappointing Q1 financial results and the downward revision of its future earnings guidance. Such financial performance and outlook adjustments typically lead to a loss of investor confidence and a decrease in stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100