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Air Products & Chemicals profit misses consensus by 15.2% in fiscal Q1

Air Products and Chemicals Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, amounted to $1.26 per share, compared with the S&P Capital IQ consensus estimate of $1.49 per share.

EPS rose 15.1% year over year from $1.10.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $273.7 million, a gain of 16.4% from $235.2 million in the year-earlier period.

The normalized profit margin climbed to 10.7% from 9.2% in the year-earlier period.

Total revenue came to $2.56 billion, compared with $2.55 billion in the year-earlier period, and total operating expenses declined from the prior-year period to $2.12 billion from $2.16 billion.

Reported net income rose 13.1% from the prior-year period to $324.9 million, or $1.50 per share, from $287.2 million, or $1.34 per share.