The Rising Influence of Rising Affluence

[DewDiligence]

APD raises FY2011 EPS guidance based on strong 2nd quarter:

http://finance.yahoo.com/news/Air-Products-Reports-Fiscal-prnews-3125596920.html?x=0&.v=1

The new EPS guidance for the fiscal year ending 9/30/11 is $5.65-5.75. (The old range was $5.55-5.70). These ranges are non-GAAP insofar as they exclude $48.5M ($0.22/sh) of costs associated with the failed hostile offer for Airgas.

Based on the midpoint of the new EPS range ($5.70), APD has a P/E for FY2011 of 16.5x.

For fiscal 3Q11 (ending 6/30/11), the EPS guidance is $1.42-1.47. There are no additional costs to be borne for the Airgas deal, so the GAAP and non-GAAP numbers are the same for the remaining quarters of the fiscal year.