ALLENTOWN, Pa. - Air Products' second-quarter earnings slipped 2 percent and the company tempered growth expectations for the remainder of the year after seeing weaker than expected sales volumes.
The Allentown-based company, which sells gases, chemicals and other equipment to industrial customers, says it now expects fiscal 2013 earnings to range from $5.45 to $5.60 per share, which is down from its January forecast for earnings of $5.70 to $5.90 per share.
According to FactSet, analysts had expected earnings of $5.76 per share.
Chairman and CEO John McGlade says the company was challenged by slower economic growth in the United States, contraction in Europe, softness in China and a much weaker electronics market than Air Products had expected
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