Sector: Materials|Industry: Specialty Chemicals|Market Cap: $65.67B|Employees: 23K
Air Products and Chemicals, Inc. is a world-leading industrial gases company focused on serving energy, environmental, and emerging markets. The company's core business involves producing and selling atmospheric and process gases, as well as related equipment and applications expertise. Air Products also develops clean hydrogen projects, and operates across the Americas, Asia, Europe, and the Middle East and India.
Sales decreased by 2% year-over-year, from $3,033.9 million to $2,985.5 million, primarily due to unfavorable currency impacts and lower energy cost pass-through to customers, partially offset by higher pricing.
Operating income increased by 14% year-over-year, from $644.2 million to $737.6 million, driven by a prior year charge for business and asset actions, positive pricing, and favorable business mix, partially offset by unfavorable currency and higher costs.
Net income increased by 16% year-over-year, from $610.5 million to $708.9 million, primarily due to a prior year charge for business and asset actions, favorable pricing, and favorable business mix, partially offset by higher costs.