Air Products & Chemicals Reports Upbeat Q2 Earnings, Raises 2011 Projections

Air Products & Chemicals Inc APD reported better-than-expected FQ2 earnings and raised its earnings guidance for the year. APD reported its FQ2 net profit at $304.3 million, or $1.39 per share, up from $252 million, or $1.16 per share, in the year-earlier period. The company's sales increased 11% to $2.5 billion. The company's adjusted earnings came in at $1.41 per share. However, analysts were expecting earnings of $1.39 per share on sales of $2.44 billion. APD raised its earnings forecast for the year to a range of $5.65 to $5.75 per share and projects Q3 earnings of $1.42 to $1.47 per share. However, analysts were expecting Q3 earnings of $1.45 per share and earnings of $5.69 per share for the year. APD shares gained 1.80% to close at $93.72 yesterday. Read more from Benzinga's Company news.