Air Products reported strong fiscal 2016 third quarter results today, with double-digit increases across the board resulting from operational improvements and restructuring benefits, according to the company.
Net income from continuing operations was up 11% versus the previous year, totalling $356m, adjusted operating income of $535m swelled by 26% comparatively and adjusted EBITDA of $833m grew by 10% over the prior year.
Third quarter sales actually decreased 1% to $2.4bn, as Air Product’s 4% higher sales volumes were more than offset by a 3% lower energy pass-through and 2% unfavourable currency. But the company underlined that the volume improvement was driven by its Global Industrial Gases divisions, as well as segments in Asia and North America.
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