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Air Products and Chemicals Inc. Reports Operating Results (10-Q)

July 27, 2012 | About:
10qk

10qk

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Air Products and Chemicals Inc. (APD) filed Quarterly Report for the period ended 2012-06-30.

Air Products & Chemicals, Inc. has a market cap of $17.01 billion; its shares were traded at around $80.04 with a P/E ratio of 14.3 and P/S ratio of 1.7. The dividend yield of Air Products & Chemicals, Inc. stocks is 3.2%. Air Products & Chemicals, Inc. had an annual average earning growth of 8% over the past 10 years. GuruFocus rated Air Products & Chemicals, Inc. the business predictability rank of 2-star.

Highlight of Business Operations:

Net income was $484.5 compared to $326.5 and diluted earnings per share was $2.26 compared to $1.50. On a non-GAAP basis, net income was $429.9 compared to $326.5 and diluted earnings per share was $2.01 compared to $1.50. A summary table of changes in earnings per share is presented on page 28.

Net income was $1,028.6 compared to $899.4 and diluted earnings per share was $4.79 compared to $4.12. On a non-GAAP basis, net income was $1,020.1 compared to $931.0 and diluted earnings per share was $4.75 compared to $4.26. A summary table of changes in earnings per share is presented on page 34.

For the first nine months of 2012, cash provided by operating activities was $1,244.6. Income from continuing operations of $862.1 reflected the non-cash gain on the previously held equity interest in DA NanoMaterials of $85.9 and a non-cash tax benefit of $58.3 recognized as a result of the second quarter Spanish tax ruling. Income from continuing operations is adjusted for other non-cash items that include depreciation and amortization, undistributed earnings of equity affiliates, share-based compensation expense, and noncurrent capital lease receivables. The working capital accounts were a use of cash of $39.0, including trade receivables of $71.9. The provision for the cost reduction plan resulted in an increase to accrued liabilities of $80.8, partially offset by a use of cash of $21.2 for payments made in relation to the cost reduction plan.

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