Improved Volumes Lift Air Products Earnings

Air Products’ net income for its fiscal third quarter ended June 30 rose 23% to $277 million ($1.28/share) because of improved volumes across most businesses. Earnings were in line with analysts consensus estimates. Net income excludes a $24-million charge for costs associated with the company’s tender offer to buy Airgas. Airgas rejected the offer earlier this week.  John McGlade, chairman, president and chief executive officer, said, "Our tonnage, merchant, and electronics and performance materials businesses had significant increases in...

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