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Air Products' earnings up on strong electronics and performance materials

8:40 AM MST | January 28, 2014 | Lindsay Frost

Air Products reported net income $287 million, up 4% year-over-year (YOY) on gains in its electronics and performance materials, and equipment and energy segments. Reported earnings of $1.34/share narrowly beat analyst estimates of $1.33/share, according to Thomson Reuters (New York). Sales of $2.5 billion fell 1% YOY due to slightly lower volumes and stable pricing, partially offset by higher energy pass-through, the company says. “In the first quarter, our cost reduction efforts contributed to higher operating income, further strong signings improved...

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