Air Products and Chemicals stock drops on Q1 earnings miss

Shares of Air Products and Chemicals (APD) fell sharply after the company reported disappointing fiscal first-quarter earnings results and reduced its 2024 outlook. Air Products missed expectations on both the top and bottom lines for the first-quarter. Revenue came in at $2.99 billion, below analyst estimates of $3.20 billion. Adjusted EPS also fell short at $2.82 versus expectations of $3.01. The company cited a manufacturing slowdown in China as a key factor behind the weak quarterly performance. Yahoo Finance's Julie Hyman and Josh Lipton break down the details of this trending ticker. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith