Air Liquide SA
AI: XPAR (FRA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€531.00 | Fqlfj | Vqlbrbl |
Air Liquide Earnings: Solid Growth in the Americas Partially Offset by Declines in Europe and Asia
Wide-moat-rated Air Liquide reported solid first-quarter results, featuring 2% year-over-year comparable sales growth. Results varied by region, as comparable sales increased by 6% in the Americas and 11% in the Middle East and Africa but decreased by 1% in Asia Pacific and 2% in Europe. We are maintaining our EUR 185 fair value estimate given that nothing in the industrial gas firm's earnings release materially alters our long-term outlook. We see the name as fairly valued at current levels.