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Air Products Has Severe Top-Line Slowdown
Sales at Air Products ([url=http://www.zacks.com/research/report.php?t=apd]APD[/url]) are down 29% in April and May. This is faster than the 24% drop in April, with May obviously being a much larger negative number. Air Products reported the steepest sales decline in its tonnage gases unit, whose customers include oil refiners that need hydrogen and metal fabricators that need oxygen.
Sales in that unit dropped 41 percent in April and May compared to a year earlier due to lower demand from chemical producers and steel-makers.
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