Air Products and Chemicals Inc. APD makes industrial gases as well as a variety of polymer and performance chemicals. It also supplies processing equipment. The company serves technology, energy, industrial and health care customers globally.Air Products benefits from a diverse customer base, sustained pricing power and cost-reduction measures. New business deals and strategic investments are also expected to support its results. The company’s acquisition in Latin America has ushered in substantial growth opportunity, making it the second largest growth region for Air Products. However, Air Products' industrial gases business in the Europe, Middle East, and Africa (EMEA) region is seeing pressure from a weak operating environment. The company is also exposed to currency headwinds.Let’s have a quick look at the company’s second-quarter fiscal 2016 release.Estimate Trend & Surprise HistoryInvestors should note that the earnings estimate for Air Products for the fiscal second-quarter has been static over the last month. Air Products has beaten estimates in all of the last four quarters with an average positive surprise of 2.73%.EarningsAir Products logged adjusted earnings of $1.82 per share for the fiscal second-quarter, up 17% year over year, topping the Zacks Consensus Estimate of $1.80.RevenuesAir Products posted net sales of $2,271 million for the quarter, down 6% year over year, missing the Zacks Consensus Estimate of $2,330 million.Key Stats/Developments to NoteAir Products expects earnings from continuing operations for third-quarter fiscal 2016 to be in the range of $1.87 to $1.92 per share, up 13−16% compared to prior year quarter. The company raised its earnings guidance for fiscal 2016 and now expects it to be in the band of $7.40 to $7.55 per share, up 12-14%.The company discontinued its Energy-from-Waste (EfW) business, having decided to exit it. Restructuring and self-help measures drove up adjusted EBITDA and adjusted ROCE in the reported quarter.Zacks RankCurrently, Air Products has a Zacks Rank #2 (Buy), but that could change following its earnings report which was just released.Market ReactionAir Products’ shares were inactive in pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.Check back later for our full write up on Air Products’ earnings report!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AIR PRODS & CHE (APD): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research