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Here's What Key Metrics Tell Us About Air Products and Chemicals (APD) Q2 Earnings

Zacks Equity Research
·2-min read

For the quarter ended March 2024, Air Products and Chemicals (APD) reported revenue of $2.93 billion, down 8.4% over the same period last year. EPS came in at $2.85, compared to $2.74 in the year-ago quarter.

The reported revenue represents a surprise of -7.03% over the Zacks Consensus Estimate of $3.15 billion. With the consensus EPS estimate being $2.72, the EPS surprise was +4.78%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Air Products and Chemicals performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenue- Industrial Gases- Middle East and India: $35.70 million versus the four-analyst average estimate of $43.54 million. The reported number represents a year-over-year change of -20.3%.

  • Revenue-Industrial Gases- Americas: $1.25 billion versus $1.35 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -9.3% change.

  • Revenue-Industrial Gases- Europe: $667.90 million compared to the $749.55 million average estimate based on four analysts. The reported number represents a change of -11.3% year over year.

  • Revenue-Industrial Gases- Asia: $779.70 million compared to the $810.21 million average estimate based on four analysts. The reported number represents a change of -4.2% year over year.

  • Revenue- Corporate and other: $201.10 million versus $217.31 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -6.6% change.

View all Key Company Metrics for Air Products and Chemicals here>>>

Shares of Air Products and Chemicals have returned -2.2% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research