IHS Chemical Week

Air Products lowers guidance

11:57 AM MDT | April 23, 2013

Air Products reported that net income decreased 1.6% year-over-year (YOY), to $290.4 million. Adjusted earnings of $1.37/share, up 5.4% YOY, were in line with analyst estimates, according to Thomson Reuters (New York). Sales increased 6% YOY, to $2.48 billion. "Global economic growth continued to be a challenge, with a slower US, contraction in Europe, softness in China, and an electronics market much weaker than we expected,ā€¯ says John McGlade, chairman and CEO of Air Products. The companyā€™s acquisition of Indura contributed to sales growth in its merchant...

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