Why Shares of Air Products and Chemicals Jumped 11% in November
Climbing 11% last month, according to data from S&P Global Market Intelligence, shares of Air Products and Chemicals (NYSE: APD), a provider of industrial gases, bounced back from their 4% slide in October. In addition to a strong fourth-quarter earnings report, investors responded to management's auspicious outlook for 2020 and a positive nod from Wall Street.
Although Air Products reported a year-over-year 1% decrease in revenue for Q4 2019 primarily as a result of lower energy-cost pass-through, the company credited higher pricing and volumes as contributing factors to its notable bottom-line growth, as the company reported GAAP net income of $519 million -- a 13% year-over-year increase. Similarly, investors celebrated the company's performance regarding the full year. While growth on the top line was essentially flat, Air Products reported a 310-basis-point expansion in its GAAP net income margin for 2019 compared to 2018, helping the company achieve an 18% increase in GAAP net income from 2018 to 2019.
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Source Fool.com
