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    James Alexander Stewart

    Research Analyst at Barclays

    James Alexander Stewart is an analyst at Barclays, specializing in equity research with a focus on key companies within his sector. While comprehensive public performance metrics and a detailed coverage list are not readily available, his role involves providing investment insights, valuation analyses, and sector commentary for institutional clients. Stewart began his professional career in financial services before joining Barclays, where he has progressed to his current analyst position. Information regarding FINRA registrations, securities licenses, and industry recognition is not publicly disclosed.

    James Alexander Stewart's questions to L AIR LIQUIDE SA /FI (AIQUY) leadership

    James Alexander Stewart's questions to L AIR LIQUIDE SA /FI (AIQUY) leadership • Q3 2021

    Question

    James Alexander Stewart questioned the merchant business volume growth, pointing out that his calculations suggested a slowdown in Europe and minimal improvement in the Americas relative to 2019 levels, which seems at odds with strong industrial production.

    Answer

    Executive VP Francois Jackow clarified that European Industrial Merchant volume growth was actually above 6%, with the reported figure being negatively impacted by small divestitures. Executive VP Michael J. Graff explained that Americas growth was constrained by customer supply chain and labor issues, and that Air Liquide had to shift some production from industrial gases to medical oxygen to meet high demand, which impacted industrial volumes.

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