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Air Merchandise and Chemical compounds, Inc. (NYSE: APD), a number one developer of business fuel tasks, reported a rise in revenue for the fourth quarter of 2023, regardless of a decline in web gross sales.
- Fourth-quarter web revenue, on a reported foundation, elevated to $692.6 million or $3.11 per share from $583.1 million or $2.62 per share within the year-ago quarter
- Adjusted revenue was $3.15 per share within the third quarter, which is up 11% from the prior-year interval
- Fourth-quarter adjusted EBITDA elevated 10% year-over-year to $1.3 billion; At 39.5%, adjusted EBITDA margin was up 740 foundation factors
- Web revenue margin got here in at 21.8%, which is up 520 foundation factors; This autumn web gross sales declined to $3.19 billion from $3.57 billion in This autumn 2022
- For fiscal 2024, the corporate expects adjusted earnings to be within the vary of $12.80 per share to $13.10 per share
- For the primary quarter of 2024, the administration forecasts adjusted earnings between $2.90 per share and $3.05 per share
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