Air Products & Chemicals 2Q Profit Falls, Sales Rise

By Dave Sebastian

Air Products & Chemicals Inc. said its profit for the latest quarter fell as it booked a 10-cent-a-share to 15-cent-a-share hit from the Covid-19 pandemic, though sales rose.

The industrial-gases company on Monday posted net income attributable to the company of $473.1 million for the fiscal second quarter, compared with $477.8 million in the same period last year. Earnings were $2.13 a share in the three months ended March 31, compared with $2.15 a share in the prior year.

Adjusted earnings were $2.08 a share. Analysts polled by FactSet were expecting $2.12 a share.

Sales rose to $2.5 billion from $2.22 billion due to 7% higher energy cost pass-through, 4% favorable currency and 2% higher pricing. Analysts were expecting $2.34 billion.

Selling and administrative expenses rose to $210.3 million from $201.7 million.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

May 10, 2021 06:32 ET (10:32 GMT)

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