Air Products has released its first quarter results, reporting sales of $3bn, down 6% for the prior year.
The fiscal year of the industrial gases major runs from October to September, so its Q1 figures are for the period to end-December 2023.
Seifi Ghasemi, Chairman, President, and CEO, said “significant” geopolitical and economic headwinds had impacted performance.
“Our reported results were lower than our expectations, mainly due to a slowdown in manufacturing in Asia, particularly in China, [with] lower helium demand, cost headwinds from a sale of equipment project, and currency devaluation in Argentina,” he said.
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