Air Products Reports Strong 4Q Earnings but Issues Below-Consensus Guidance; We Maintain Our FVE
Industrial gas distributor Air Products delivered solid fiscal fourth-quarter 2018 results, posting nearly 14% year-over-year EPS growth, roughly in line with consensus estimates. However, management’s guidance for the next quarter came in below consensus expectations. Overall, the announcement does not alter our long-term view of the company, and we maintain our $160 fair value estimate and our narrow moat rating.The company’s 4% top-line year-over-year growth in revenue was fueled by strong r...
Air Products and Chemicals serves customers globally with a portfolio of products, services, and solutions that include atmospheric gases, process and other gases, equipment, and services. The company is a supplier of hydrogen and is engaged in helium and liquefied natural gas (LNG) process technology and equipment. The company also develops, engineers, builds, owns and operates industrial gas projects, including gasification projects that convert abundant natural resources into syngas for the production of power, fuels and chemicals. The company designs and manufactures equipment for air separation, hydrocarbon recovery and purification, LNG, and liquid helium and liquid hydrogen transport and storage.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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