Air Products Sales Up 10.4% in 1Q - Modern Distribution Management

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Air Products Sales Up 10.4% in 1Q

Equipment and Energy sales had the highest year-over-year increase, at 19 percent.

Air Products (NYSE: APD), Lehigh Valley, PA, reported sales for the first quarter ended Dec. 31, 2012, of $2.6 billion, an increase of 10.4 percent compared to the same period a year ago. Profit increased 12.2 percent to $278.3 million.

Merchant Gases sales of $1 billion increased 14 percent versus the prior year due to the Indura acquisition. Underlying sales declined one percent, with positive pricing in all regions more than offset by lower volumes in Europe.

Tonnage Gases sales of $898 million increased 11 percent versus the prior year, on strong base loading and new plant volumes.

Electronics and Performance Materials sales of $549 million were up 3 percent versus the prior year primarily due to the DA NanoMaterials acquisition. Underlying sales were down one percent, as volume growth in Performance Materials was more than offset by lower Electronics volumes.

Equipment and Energy sales of $106 million increased 19 percent versus the prior year, due to higher large ASU and LNG equipment sales.

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