What to Expect From Air Products and Chemicals' Next Quarterly Earnings Report

Allentown, Pennsylvania-based Air Products and Chemicals, Inc. (APD) provides atmospheric gases, process and specialty gases, equipment, and related services. Valued at $72.6 billion by market cap, the company develops, engineers, builds, owns, and operates some of the world's largest industrial gas projects, including gasification projects for producing high-value power, fuels, and chemicals. The leading industrial gas supplier is expected to announce its fiscal fourth-quarter earnings for 2024 before the market opens on Thursday, Nov. 7. 

Ahead of the event, analysts expect APD to report a profit of $3.44 per share on a diluted basis, up 9.2% from $3.15 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing the forecast on another occasion. 

For the full year, analysts expect APD to report EPS of $12.33, up 7.1% from $11.51 in fiscal 2023. Its EPS is expected to rise 8.9% year over year to $13.43 in fiscal 2025. 

APD stock has underperformed the S&P 500’s ($SPX) 22.5% gains on a YTD basis, with shares up 20.1% during this period. However, it outperformed the Materials Select Sector SPDR Fund’s (XLB) 13.7% gains over the same time frame.

On Aug. 1, APD shares closed up more than 8% after reporting its Q3 results. Its adjusted EPS of $3.20 was better than the consensus of $3.03. The company’s revenue stood at $3 billion, down 1.6% year over year. For Q4, it expects adjusted EPS to be between $3.33 and $3.63. APD expects full-year adjusted EPS to be between $12.20 and $12.50.

Analysts’ consensus opinion on APD stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 21 analysts covering the stock, 11 advise a “Strong Buy” rating, nine give a “Hold” rating, and one recommends a “Strong Sell.” While APD currently trades above its mean price target of $324.50, the Street-high price target of $385 suggests an upside potential of 17.1%.

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On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.