Air Products posts lower quarterly net income
US-based LNG equipment maker, Air Products on Tuesday reported lower fiscal fourth-quarter net income than in the same period a year ago.
Net income decreased 4 percent from the comparable quarter a year ago to $452.9 million. Earnings per share were $2.05, down 5 percent.
These results were affected by an income tax provision in place of a benefit and also due to expenses from a pension settlement, according to Air Products.
On the other side, fourth-quarter sales of $2.3 billion increased 4 percent from the prior year.
Air Products said in its quarterly report it expects adjusted earnings for fiscal year 2019 to be between $8.05 and $8.30 a share and for adjusted earnings for the first fiscal quarter to be between $1.85 and $1.90 a share.