NEW YORK (TheStreet) -- Shares of Air Products & Chemicals (APD) - Get Report were gaining 5.3% to $141.21 Thursday after the chemical company beat analysts' estimates for earnings in the fiscal third quarter and raised its fiscal year guidance.
Air Products & Chemicals reported earnings of $1.65 a share for the second quarter, above analysts' estimates of $1.58 a share for the quarter. Revenue fell 6.1% year over year to $2.47 billion for the quarter, compared to analysts' estimates of $2.48 billion.
The company said it now expects to report earnings of $6.50 to $6.60 a share for fiscal year 2015, up from its previous forecast range of $6.35 to $6.55 a share. Analysts expect the company to report earnings of $6.45 a share for the fiscal year.
Looking to the fiscal fourth quarter Air Products & Chemicals said it expects earnings of $1.75 to $1.85 a share, compared to analysts' estimates of $1.77 a share for the quarter.
TheStreet Ratings team rates AIR PRODUCTS & CHEMICALS INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate AIR PRODUCTS & CHEMICALS INC (APD) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in net income, expanding profit margins, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."
You can view the full analysis from the report here: APD Ratings Report