Air Products Cuts 2012 Outlook

Air Products met analysts’ estimates for its fiscal third quarter, but cut its fiscal 2012 guidance on expectations of weak demand from Europe and Asia. The company posted profits of $485 million for the quarter ended June 30, 46% higher than the year-ago quarter. Excluding gains associated with the recent buyout of DuPont Air Products NanoMaterials, its former slurry joint venture with DuPont, and results from discontinued operations, net income was 2% higher, to $303 million ($1.41/share). Analysts’ consensus was for $1.41/share, as reported by...

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