Air Liquide Revenue Hit by Falling Energy Prices
October 25 2023 - 1:08AM
Dow Jones News
By Adria Calatayud
Air Liquide reported a drop in revenue for the third quarter due
to sharply reduced energy prices, but said its project backlog and
investment plans are at record levels.
The French industrial-gas supplier reported revenue of 6.81
billion euros ($7.21 billion) for the third quarter, down 17% on
the same period last year.
Analysts had expected Air Liquide to report quarterly revenue of
EUR6.83 billion, according to a consensus provided by FactSet.
The company said the revenue fall mainly reflects a drop in
energy prices that are contractually passed through to its
customers.
On a comparable basis, revenue was up 1.5%, Air Liquide said on
Wednesday.
The company said its project backlog and investment decisions
reached record levels in the quarter at EUR4.2 billion and EUR1.3
billion, respectively.
For 2023, Air Liquide continues to expect increases in its
operating margin and to recurring net profit at constant-exchange
rates.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
October 25, 2023 01:53 ET (05:53 GMT)
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