Air Liquide Shares Climb on Better-Than-Expected 3Q Sales
October 25 2022 - 4:29AM
Dow Jones News
By Pierre Bertrand
Air Liquide SA shares rose on Tuesday after the French
industrial gases company's third-quarter sales slightly exceeded
analyst expectations.
At 0736 GMT, shares climbed 4.2% to EUR129.40 after sales for
the quarter rose 41% to 8.25 billion euros ($8.15 billion),
slightly ahead of analysts' expectations of EUR8.11 billion
according to estimates provided by the company.
The company's revenue was boosted by a record-high energy price
pass-through effect of slightly above 24% and was helped by strong
pricing, Citi analysts said in a research note, adding that the
company's current momentum is likely to continue through to the end
of the year.
The company's comparable growth came in at 8.3% for the
quarter.
At its gas and services division, Air Liquide's largest
contributor to sales, revenue grew 41% where activity in the
Americas and Asia was particularly strong, the company said.
The French industrial gases company said it maintained its
full-year 2022 outlook of further increasing its operating margin
and delivering recurring net profit growth, at constant exchange
rates.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
October 25, 2022 04:14 ET (08:14 GMT)
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