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![Air Products & Chemicals, Inc. [APD] reports quarterly net loss of $580.9 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FAPD.png&w=1200&q=75)
Air Products & Chemicals, Inc. [APD] has reported a net loss of $580.9 million for quarter ended Sep 30, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the quarter was $2.9 billion
Based in Allentown, Pennsylvania, Air Products & Chemicals, Inc. operates in the MANUFACTURING sector.
In the current financial period ending March 31, 2024, Air Products reported total sales of $2,930.2 million as compared to $3,200.1 million in the same period last year. This represents a decline in revenue from the previous year.
Cost of sales for the current period stood at $1,991.5 million, down from $2,282.8 million in the previous year. Similarly, operating income for the current period rose to $637.2 million from $459.8 million in the previous year, indicating an improvement in operational efficiency.
Net income attributable to Air Products for the current period was $572.4 million, higher than the $439.8 million reported in the same period last year. This signifies an increase in profitability for the company.
Basic earnings per share for the current period were $2.57, up from $1.98 in the previous year. Diluted earnings per share also showed an increase from $1.97 to $2.57 for the current period.
Overall, Air Products has demonstrated growth in net income and earnings per share, despite a decrease in revenue. The company's operational performance has shown improvement, leading to higher profitability for shareholders.
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