In the first quarter, the net profit of industrial gas companies increased significantly
Global industrial gas giant Air Products Inc. and Praxair Inc. recently announced their performance reports for the first quarter of this year. Affected by the favorable impact of exchange rate changes and the rapid development of overseas markets, both companies' earnings have shown strong growth in the first quarter.
In the first quarter of this year, Praxair's net profit increased by 20% to 3.18 billion U.S. dollars (excluding pension expenses), earnings per share was 99 cents, and sales revenue increased 22% year-on-year to 2.66 billion U.S. dollars. Profit increased by 23% year-on-year to US$499 million. Praxair said that the main reason is the increase in global industrial gas prices and the company’s cost control plan. Pratt & Company CEO Steve Angel said: “In the first quarter, the company has increased its business in all regions of the world, and its performance in South America and Asia has become even more prominent.â€
Air Products' net profit in the first quarter of this year increased by 24% year-on-year to US$270 million (excluding pension expenses), earnings per share reached US$1.23, sales revenue increased by 13% from the same period last year to US$2.6 billion . The reason why the company achieved better results was mainly due to the increase in the sales of industrial gases, electronic products and high-performance materials. The increase in the prices of commercial gases and the changes in exchange rates were beneficial to the company.
In the first quarter of this year, Praxair's net profit increased by 20% to 3.18 billion U.S. dollars (excluding pension expenses), earnings per share was 99 cents, and sales revenue increased 22% year-on-year to 2.66 billion U.S. dollars. Profit increased by 23% year-on-year to US$499 million. Praxair said that the main reason is the increase in global industrial gas prices and the company’s cost control plan. Pratt & Company CEO Steve Angel said: “In the first quarter, the company has increased its business in all regions of the world, and its performance in South America and Asia has become even more prominent.â€
Air Products' net profit in the first quarter of this year increased by 24% year-on-year to US$270 million (excluding pension expenses), earnings per share reached US$1.23, sales revenue increased by 13% from the same period last year to US$2.6 billion . The reason why the company achieved better results was mainly due to the increase in the sales of industrial gases, electronic products and high-performance materials. The increase in the prices of commercial gases and the changes in exchange rates were beneficial to the company.
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