RTTNews | Nov 4, 2021 06:35AM EDT

06:35 Thursday, November 4, 2021 (RTTNews.com) - While reporting higher fourth-quarter results, industrial gases company Air Products And Chemicals Inc. (APD) Thursday said it expects first-quarter adjusted earnings per share of $2.45 to $2.55, up 16 to 20 percent over last year.

For fiscal 2022, adjusted earnings per share is expected to be $10.20 to $10.40, up 13 to 15 percent over prior year.

On average, analysts polled by Thomson Reuters expect earnings of $2.52 per share for the quarter, and $10.68 per share for the year. Analysts' estimates typically exclude special items.

Further, fiscal year 2022 capital expenditures are expected to be $4.5 billion to 5.0 billion.

In its fourth quarter, net income attributable to Air Products was $610.4 million, higher than prior year's $486.8 million. Earnings per share from continuing operations was $2.51, up from $2.19 a year ago.

Fourth-quarter sales were $2.84 billion, a growth of 22 percent from last year's $2.32 billion, on 9 percent higher volumes.

Analysts were looking for earnings of $2.49 per share on revenues of $2.67 billion for the quarter.

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