John McGlade

Air Products & Chemicals Inc.'s (APD) fiscal-second quarter earnings edged down 1.9% as the industrial-gas maker reported a rise in certain costs, while its income tax provision surged.For the year, Air Products lowered its per-share earnings view to a range of $5.45 to $5.60 from its prior view of $5.70 to $5.90. For the current quarter, Air Products said it expects per-share earnings of $1.33 to $1.38. Analysts polled by Thomson Reuters recently expected per-share earnings of $1.50.Air Products, which provides atmospheric, process and specialty gases, has been grappling with higher energy costs, a key expense for many chemical companies.Last week, the company said it plans to raise prices on some of its products in North America by as much as 10% starting next month as the company faces higher costs to produce and deliver its industrial gases. The planned price increases of up to 10% affect sales of liquid argon, liquid oxygen, liquid nitrogen, liquid and bulk hydrogen, bulk carbon m...

Read More ›