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Air Products Earnings Fall 1%, Meet Estimates

8:48 AM MST | January 24, 2012 | Vincent Valk

Air Products today reported fiscal first-quarter earnings of $292 million, down 1% from the same period last year, on revenues up 1% to $2.42 billion. Earnings totaled $1.36/share, matching Wall Street estimates and flat with the year-ago period. The revenue increase was driven by higher prices in merchant gases and performance materials.   Sales were flat at $989 million in merchant gases, while operating income fell 4% year-on-year to $192 million on weaker volumes. Weak volumes were partially offset by higher pricing in liquid bulk and packaged gases in...

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