Air Products fiscal 2Q profit slips 2 percent
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
Copyright 2013 WFMZ. The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.