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)

Copyright (c) 2022 Dow Jones & Company, Inc.
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