Air Products has reported its third quarter (Q3) 2023 financial results, highlighting GAAP net income of $611m, up 4%, and GAAP diluted earnings per share (EPS) of $2.98, up 2%.
Q3 sales of $3bn decreased 5% over the prior year as 4% higher pricing and 3% higher volumes were more than offset by 11% lower energy cost pass-through and 1% unfavourable currency.
Adjusted EBITDA margin of 39.8% increased 590 basis points over the prior year, which also included a positive impact from lower energy cost pass-through.
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