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Air Products Reports 1Q 2016 Results

Quarterly EPS of $1.78 up 15% versus prior year despite currency headwinds.

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By: DAVID SAVASTANO

Editor, Ink World Magazine

Air Products reported net income of $387 million and earnings per share (EPS) of $1.78, both up 15% versus prior year for its fiscal first quarter ended Dec. 31, 2015. On a GAAP basis, net income was $364 million and EPS was $1.67 for the quarter. First quarter sales of $2,356 million decreased 8% from the prior year, as unfavorable currency and lower energy pass-through of 5% each more than offset volume and pricing increases of 1% each. Operating income of $519 million increased 17% vers...

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