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,” says John McGlade, chairman and CEO of Air Products. The company’s acquisition of Indura contributed to sales growth in its merchant...

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