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Air Products reports higher sales on acquisitions

8:37 AM MDT | July 23, 2013 | Lindsay Frost

Air Products reports that net income for the quarter ended 30 June fell 59%, to $288 million year-on-year (YOY), on sales up 9%, to $2.5 billion, because of acquisitions, including liquid carbon dioxide firm EPCO in June, and higher energy cost pass-through. Income from continuing operations, excluding the impact of its exit from polyurethane intermediates (PUI) business, fell 18%, to $298 million. Earnings per share of $1.36/share were on track with analyst estimates, according to Thomson Reuters (New York). "Productivity and solid execution...

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