Air Products posts higher Q1 earnings

US-based LNG equipment maker, Air Products on Friday reported higher fiscal first-quarter profit earnings than in the same period a year ago.

The company’s bottom line rose to $394.6 million, or $1.79 per share as compared to $322 million, or $1.47 per share, in last year’s first quarter.

Revenue for the quarter increased 18.1 percent to $2.22 billion, Air Products said.

“Adjusted EPS of $1.79 was another quarterly record. This is also the 15th consecutive quarter that we have reported adjusted EPS growth. In addition, we are winning new projects and delivering on our growth strategy,” said Seifi Ghasemi, chairman, president and chief executive officer.

“We generated a significant amount of investable cash and announced a 16 percent increase to our quarterly dividend, making our annual dividend $4.40 per share,” added Ghasemi.