“With our secure business model, strong cash flows, and the continued hard work and dedication of the Air Products team around the world, we again performed in keeping with our commitments to our shareholders.”
Those were the words of Seifi Ghasemi, Chairman, President and CEO of Air Products, as he reflected on the industrial gas giant’s fiscal 2022 first quarter (Q1) results, released today (4th Feb).
Boasting impressive figures, Air Products reported Q1 sale of $3bn, a 26% increase over the prior year. The volume growth of sales has credited the growth to new assets, hydrogen and merchant recovery and higher equipment sales.
GAAP EP from continuing operations of $2.52 was up 19% over the prior year, and GAAP net income of $550m was up 13% over prior year as higher volumes, pricing and equity affiliate income more than offset higher costs.
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