Pennsylvania-based Air Products has today (7th Nov) reported its fiscal fourth quarter (Q4), noting sales of $3.2bn, an 11% decrease from the prior year.
Q4 did, however, see the industrial gas giant report GAAP EPS from continuing operations of $3.08, up 20% from the prior year. GAAP net income of $694m was up 17% and higher equity affiliates’ income, partially offset by higher costs due to higher pricing.
For the quarter, on a non-GAAP basis, adjusted EPS from continuing operations of $3.15 increased 11% over the prior year. Adjusted EBITDA of $1.3bn was up 10% due to higher pricing and higher equity affiliates’ income, partially offset by higher costs.
Seifi Ghasemi, Chairman, President and CEO of Air Products, said the company continues to demonstrate stability and resilience, despite challenging economic conditions.
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