Air Products Q3 net income up 23% on margins, earnings growth

22 July 2010 12:49  [Source: ICIS news]

LONDON (ICIS news)--Air Products’ third-quarter net income rose by 23% year on year to $277m ($216m) as a result of margin improvements and earnings growth, the US industrial gases firm said on Thursday.

Sales for the quarter came in at $2.25bn, up 14% from the same three months in 2009, while operating income of $374m rose 22% from the same quarter last year on significantly improved volumes, Air Products said.

Our tonnage, merchant, and electronics and performance materials businesses had significant increases in volume this quarter. Our continued improvements in margin, earnings growth and return on capital show that we remain focused on delivering the value our shareholders expect,” said Air Products chairman, president and CEO John McGlade.

He added that the company’s operating leverage across the company would continue to drive margin improvement, and that earnings growth was expected to exceed 20% for fiscal 2010.

McGlade said the company was on track to hit its margin goal of 17% in 2011.

($1 = €0.78)

For more on Air Products visit ICIS company intelligence
To discuss issues facing the chemical industry go to
ICIS connect

By: Hilde Ovrebekk
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index