Air Products has today reported its fiscal 2020 third quarter results with sales totalling $2.1bn, down 7% from the prior year.
For the quarter the North American industrial gas giant reported GAAP EPS from continuing operations of $2.01, down 9%, including an estimated $0.35-$0.40 per share negative impact from the coronavirus pandemic.
GAAP net income of $457m was down 9%, primarily reflecting the negative impacts from coronavirus and a prior year gain on an exchange of equity affiliates, partially offset by pricing actions, LNG project execution, and a prior year charge for cost reduction actions.
Commenting on the results, Air Products’ Chairman, President and CEO Seifi Ghasemi said, “As the world continues to navigate challenging conditions related to COVID-19, I am very proud of the Air Products team who have demonstrated their true character and commitment in keeping our plants running and our customers supplied with essential products.”
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