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Air Products earnings down, sales up in second quarter

9:32 AM MDT | April 23, 2014 | Lindsay Frost

Air Products reports net income of $284 million for the quarter ended 31 March, down 2% year-on-year (YOY). Reported earnings of $1.32/share fell below analyst estimates of $1.35/share. Sales of $2.6 billion were up 4% YOY, driven by higher energy cost pass-through and stronger underlying volumes in the merchant gases and electronics and performance materials segments, the company says. “In the second quarter, Air Products delivered higher underlying volumes,” says John McGlade, chairman and CEO of Air Products. “We also executed well on our...

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