Air Products records strong 2017 – net income grows 64%


Air Products has reported strong fiscal 2017 fourth quarter (Q4) and full-year results, including a 64% rise in reported GAAP net income over the same period the prior year.

Fourth quarter sales of $2.2bn increased 13% from the prior year, on 9% higher volumes, 2% higher pricing, and favourable energy pass-through and currency of 1% each.

Significantly, Air Products reported volumes were higher in all three of its industrial gas regions.

For the quarter, adjusted EBITDA of $769m increased 13% over the prior year on strong volume growth, higher pricing and productivity. Adjusted EBITDA margin of 34.9% increased 10 basis points from the prior year and was negatively impacted by 30 basis points from higher energy pass-through; excluding this impact, adjusted EBITDA margin increased 40 basis points.

... to continue reading you must be subscribed

Subscribe Today

To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.

Please wait...