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Air Products & Chemicals profit misses consensus by 15.3% in fiscal Q2

Air Products and Chemicals Inc. said its normalized net income for the fiscal second quarter ended March 31 amounted to $1.17 per share, compared with the S&P Capital IQ consensus estimate of $1.38 per share.

EPS rose year over year from $1.12.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $256.2 million, an increase of 5.4% from $243.1 million in the prior-year period.

The normalized profit margin declined to 12.9% from 13.7% in the year-earlier period.

Total revenue climbed 11.4% year over year to $1.98 billion from $1.78 billion, and total operating expenses climbed 13.4% from the prior-year period to $1.57 billion from $1.39 billion.

Reported net income grew 9.5% from the prior-year period to $305.4 million, or $1.39 per share, from $278.9 million, or $1.28 per share.