Air Products has reported GAAP (generally accepted accounting principles) net income from continuing operations of $416m and GAAP diluted earnings per share (EPS) from continuing operations of $1.89, up 37% and 36%, respectively from the prior year, for its fiscal second quarter ended 31st March, 2018.
For the quarter, on a non-GAAP basis, adjusted net income from continuing operations of $378m and diluted adjusted EPS from continuing operations of $1.71 both increased 20% over prior year.
The company’s Q2 sales of $2.2bn increased 9% from the prior year on 4% higher volumes and 5% favourable currency. Volumes were higher in all three industrial gas regions, partially offset by lower activity from the Jazan project in Saudi Arabia. Pricing increased 1%, driven primarily by the China merchant business.
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