Air Products Lowers Fourth-Quarter Guidance

Air Products has lowered its earnings guidance for its fiscal fourth quarter ending September 30 from $1.37-$1.42/share, to $1.24-$1.26/share. The company reported net income excluding special items of $1.17/share in the fourth quarter of 2007. The consensus of analysts’ estimates is $1.40/share, as reported by First Call (Boston), although some analysts lowered their guidance on today’s announcement. Air Products cites several factors, including a fire at its Ulsan, Korea nitrogen trifluoride plant that is expected to lower fourth-quarter earnings by...

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