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Stimulated by both the sales price and the sales volume of the products, the profits and sales revenue of the US Industrial Gas Company both increased significantly in the second quarter.
In the second quarter, Praxair's net profit rose by 20% year-on-year to US$342 million (US$1.08 per share). Its sales revenue increased by 23% year-on-year to US$2.9 billion, and its operating profit rose by 24% year-on-year. Reached 543 million U.S. dollars. According to Praxair, this good performance is mainly due to the increase in product sales prices and the effectiveness of the company's cost reduction measures. The company's sales revenue in all regions of the world has increased, and Asia and South America have seen faster growth.
Pravex chairman and chief executive Steve Angel said: “The company’s sales growth in Asia and South America showed strong growth in the second quarter, which was mainly due to the company’s increased investment in these developing economies. Strong support. In North America, demand from the energy sector continues to grow strongly, and our basic business has also grown steadily. It is expected that the company's sales revenue and earnings will grow strongly this year."
Air Products, another major US industrial gas company, posted a 16% year-on-year increase in net profit in the third quarter of the fiscal year ended June 30, reaching US$288 million (US$1.32 per share). This does not include the $237 million in losses that the planned sale of its U.S. health care company will bring and the $19 million in revenue from discontinued operations (mainly the sale of the remaining polymer emulsion assets). If these items are included, the company’s net profit for the third quarter of this fiscal year is 70 million US dollars. A few days ago, Air Products has been listed for the sale of US health care business. The operating profit of the company in the third quarter of this financial year increased by 9% year-on-year to US$382 million, and sales revenue increased by 16% year-on-year to US$2.8 billion. According to the company, this was mainly due to the increase in the sales volume of the company's commercial gas, electronics and performance materials business, the increase in commercial gas prices, better exchange rate policy, and better natural gas cost transferability.
In the first quarter of the fiscal year ended June 30, the company’s net profit rose 38% year-on-year to US$68.9 million (81 cents per share), and sales revenue increased by 22% year-on-year. 11 billion U.S. dollars. According to the company, the increase in sales revenue was mainly due to the company's acquisition of the business. Peter McCauland, Chairman and CEO of the company, stated: "Demand for energy and infrastructure construction will continue to grow strongly, and exports will continue to grow, which will offset the weak domestic demand in the United States."
As of now, Praxair has raised its 2008 full-year earnings forecast, Air Products has also slightly raised its fourth-quarter profit forecast for the fiscal year, while Air Gas has increased its investment as of March 31, 2009. Day's profit forecast for the current fiscal year.
In the second quarter, Praxair's net profit rose by 20% year-on-year to US$342 million (US$1.08 per share). Its sales revenue increased by 23% year-on-year to US$2.9 billion, and its operating profit rose by 24% year-on-year. Reached 543 million U.S. dollars. According to Praxair, this good performance is mainly due to the increase in product sales prices and the effectiveness of the company's cost reduction measures. The company's sales revenue in all regions of the world has increased, and Asia and South America have seen faster growth.
Pravex chairman and chief executive Steve Angel said: “The company’s sales growth in Asia and South America showed strong growth in the second quarter, which was mainly due to the company’s increased investment in these developing economies. Strong support. In North America, demand from the energy sector continues to grow strongly, and our basic business has also grown steadily. It is expected that the company's sales revenue and earnings will grow strongly this year."
Air Products, another major US industrial gas company, posted a 16% year-on-year increase in net profit in the third quarter of the fiscal year ended June 30, reaching US$288 million (US$1.32 per share). This does not include the $237 million in losses that the planned sale of its U.S. health care company will bring and the $19 million in revenue from discontinued operations (mainly the sale of the remaining polymer emulsion assets). If these items are included, the company’s net profit for the third quarter of this fiscal year is 70 million US dollars. A few days ago, Air Products has been listed for the sale of US health care business. The operating profit of the company in the third quarter of this financial year increased by 9% year-on-year to US$382 million, and sales revenue increased by 16% year-on-year to US$2.8 billion. According to the company, this was mainly due to the increase in the sales volume of the company's commercial gas, electronics and performance materials business, the increase in commercial gas prices, better exchange rate policy, and better natural gas cost transferability.
In the first quarter of the fiscal year ended June 30, the company’s net profit rose 38% year-on-year to US$68.9 million (81 cents per share), and sales revenue increased by 22% year-on-year. 11 billion U.S. dollars. According to the company, the increase in sales revenue was mainly due to the company's acquisition of the business. Peter McCauland, Chairman and CEO of the company, stated: "Demand for energy and infrastructure construction will continue to grow strongly, and exports will continue to grow, which will offset the weak domestic demand in the United States."
As of now, Praxair has raised its 2008 full-year earnings forecast, Air Products has also slightly raised its fourth-quarter profit forecast for the fiscal year, while Air Gas has increased its investment as of March 31, 2009. Day's profit forecast for the current fiscal year.
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