Air Products sees 2008 profit above Wall Street estimates
Wednesday April 23, 9:15 am ET

Air Products & Chemicals issues full-year profit guidance above Wall Street estimates

LEHIGH VALLEY, Pa. (AP) -- Industrial gases and equipment supplier Air Products & Chemicals Inc. said Wednesday it expects 2008 profit above Wall Street estimates and fiscal third-quarter profit to rise 12 percent to 16 percent.

Air Products said it expects 2008 earnings of $4.95 per share to $5.05 per share, based on its strong first-half performance, growing backlog of new investments and improving margins.

Analysts expect earnings per share of $4.92, on average, according to Thomson Financial.

The company projected earnings per share for the third quarter ending in June of $1.25 to $1.30.

Analysts polled by Thomson expect third-quarter earnings of $1.28 per share.

Also Wednesday, the company said fiscal second-quarter profit rose 38 percent as sales of tonnage and merchant gases jumped.

Source: Associated Press

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