By Dean Seal
Air Products & Chemicals expects to log higher adjusted earnings in fiscal 2024.
The Allentown, Pa.-based provider of essential industrial gases and chemicals expects adjusted earnings, which strip out one-time items, of $12.80 to $13.10 a share for fiscal 2024, up about 13% at the midpoint from its fiscal 2023 figure. Analysts surveyed by FactSet had been expecting $12.84 a share.
For the fiscal first quarter that started Oct. 1, adjusted earnings are projected to be $2.90 to $3.05 a share, up 13% at the midpoint and in line with analyst forecasts for $3 a share, according to FactSet.
The company expects capital expenditures of $5 billion to $5.5 billion. In fiscal 2023, it was $5.22 billion.
Write to Dean Seal at dean.seal@wsj.com
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