Air Products and Chemicals, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2024
April 30, 2024 at 03:30 pm IST
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Air Products and Chemicals, Inc. reported earnings results for the second quarter and six months ended March 31, 2024. For the second quarter, the company reported sales was USD 2,930.2 million compared to USD 3,200.1 million a year ago. Net income was USD 572.4 million compared to USD 439.8 million a year ago. Basic earnings per share from continuing operations was USD 2.57 compared to USD 1.98 a year ago. Diluted earnings per share from continuing operations was USD 2.57 compared to USD 1.97 a year ago.
For the six months, sales was USD 5,927.6 million compared to USD 6,374.8 million a year ago. Net income was USD 1,181.7 million compared to USD 1,012 million a year ago. Basic earnings per share from continuing operations was USD 5.31 compared to USD 4.55 a year ago. Diluted earnings per share from continuing operations was USD 5.3 compared to USD 4.54 a year ago.
Air Products & Chemicals, Inc. specializes in the design, manufacturing and marketing of gases. The activity is organized around 4 families of products:
- bulk gases: industrial gases (oxygen, nitrogen and argon), hydrogen and helium, medical and specialty gases delivered by tankers or tube trailers, in cylinders or through small on-site gas generation plants for metal, glass, chemical processing, food processing, healthcare, steel, petroleum and natural gas industries;
- tonnage gases: industrial gases (hydrogen, carbon monoxide, nitrogen and oxygen) supplied via large on-site facilities or pipeline systems, principally for customers in the petrochemical, chemical, and metallurgical industries;
- performance chemicals;
- cryogenic and gas processing equipment: for air separation, hydrocarbon recovery and purification, natural gas liquefaction, and helium distribution.
Net sales are distributed geographically as follows: the United States (41.5%), China (15.8%), and other (42.7%).