Posted April 26, 2018

Air Products sales climb 9 percent

Air Products reported second-quarter sales of $2.2 billion increased nine percent from the prior year on four percent higher volumes and five percent favorable currency.

Volumes were higher in all three industrial gas regions, partially offset by lower activity from the Jazan project in Saudi Arabia.

Net income of $416 million, or $1.89 per share, was up 37 percent from $304 million, or $1.39 per share, in last year's second quarter.

Industrial Gases – Americas sales of $913 million increased three percent over prior year, driven by higher hydrogen and merchant gases volumes. Adjusted EBITDA of $362 million increased three percent over the prior year, primarily driven by the higher volumes.