Air Products and Chemicals (NYSE:APD) 1Q17 Profit Up 8.9%; Misses Street View

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Air Products and Chemicals (NYSE:APD) 1Q17 Profit Up 8.9%; Misses Street View

Air Products and Chemicals (NYSE:APD) reported third quarter earnings , before the bell today, that missed street view.
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On a GAAP basis, APD reported net income of $ 299.80 million or $ 1.37 per share, compared with income of $ 363.60 million or $ 1.67 per share, a year ago period.

Excluding items, the company announced Non-GAAP net income of $ 322.00 million or $ 1.47 per share, where as analysts from Thomson Reuters expected $ 1.48 a share.

The company Sales increased to $ 1.88 billion, Analysts from Thomson Reuters estimated $ 1.95 billion.

The company announced, fiscal 2017 adjusted earnings per share guidance of $6.00 to $6.25, which at the midpoint, represents a 9% increase over prior year, and fiscal 2017 second quarter adjusted earnings per share guidance of $1.30 to $1.40.

Further, APD, increased dividend payable May 8, 2017 by 10 percent to 95 cents per share, reflecting its strong financial position