Paris-based industrial gases and services provider Air Liquide reported its 2023 first half financial results on July 27, showing modest year-over-year growth in its Americas segment.
That segment includes Radnor, Pennsylvania-based gases, welding and safety products distributor Airgas — acquired in 2016 for $10 billion and No. 5 on MDM’s 2023 Top Industrial Distributors List upon its $7.1 billion in 2022 revenue.
Air Liquide hasn’t broken out specific financial performance data for Airgas since its acquisition, but a look at the former’s Americas performance provides a general indication of that.
Air Liquide posted total 2Q Americas sales of $2.78 billion, up 4.6% year-over-year. That follows 1Q growth of approximately 9%.
- Sales in Industrial Merchant — 70% of the Americas geography in 2Q — were up 7% year-over-year
- Sales in Large Industries — 15% of the Americas geography in 2Q — were down 5% year-over-year
- Sales in Healthcare — 10% of the Americas geography in 2Q — were up 16% year-over-year
- Sales in Electronics — 5% of the Americas geography in 2Q — were down 10% year-over-year
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