Company Overview - Air Products (NYSE: APD) is a leading industrial gases company with over 80 years of operation, focusing on energy, environmental, and emerging markets to generate a cleaner future [3] - The company supplies essential industrial gases and related equipment to various industries, including refining, chemicals, metals, electronics, manufacturing, medical, and food [3] - Air Products is the leading global supplier of hydrogen and is involved in developing, engineering, building, owning, and operating some of the world's largest clean hydrogen projects [3] Financial Performance - For fiscal 2024, Air Products reported sales of $12.1 billion from operations in approximately 50 countries [4] - The current market capitalization of Air Products is about $60 billion [4] Upcoming Events - Air Products will hold a conference call to discuss its fiscal 2025 third quarter financial results on July 31, 2025, at 8:00 a.m. ET, which will be open to the public and media in listen-only mode [1] - The teleconference can be accessed via telephone and Internet broadcast, with details available on the company's Investor Relations website [1][2]

Investors in Air Products and Chemicals, Inc. (APD) need to pay close attention to the stock based on moves in the options market lately. That is because the July 18, 2025 $165.00 Put had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the othe ...

Group 1 - Air Products and Chemicals, Inc. (APD) is initiated with a Strong Buy rating and a price target of $368, indicating a positive outlook for the company [1] - APD provides atmospheric and process gases, related equipment, and services across various sectors including energy, manufacturing, healthcare, and advanced technologies globally [1] - Moretus Research focuses on identifying companies with durable business models and mispriced cash flow potential, applying a structured framework for investment analysis [1] Group 2 - Moretus Research emphasizes rigorous fundamental analysis combined with a judgment-driven process, aiming to filter out noise and overly complex forecasting [1] - The research coverage targets underappreciated companies undergoing structural changes or temporary dislocations, which can lead to asymmetric returns for investors [1] - The valuation approach is based on sector-relevant multiples tailored to each company's business model and capital structure, prioritizing comparability and relevance [1]

LEHIGH VALLEY, Pa., June 13, 2025 /PRNewswire/ -- Air Products (NYSE:APD) will showcase industrial gas solutions and technologies for metals and materials processing applications at the PowderMet2025 International Conference on Powder Metallurgy and Particulate Materials from June 15-18 at the Sheraton Phoenix Downtown in Phoenix, Arizona.Those attending are invited to stop by Air Products' booth #412 to speak with an industry specialist and learn how Air Products' industrial gases, technologies, and supply ...

Group 1 - The article discusses the top 100 sustainable companies identified by Calvert Research and Management based on an annual review of over 230 Environmental, Social, and Governance (ESG) performance indicators [1] - Key ESG performance indicators include workplace diversity, data security, and greenhouse-gas emissions [1] - The article emphasizes the importance of sustainable investing and highlights the growing interest in companies that prioritize ESG factors [1]

Financial Performance - For the three months ended March 31, 2025, Air Products reported sales of $2,916.2 million, a slight decrease of 0.5% compared to $2,930.2 million in the same period of 2024 [16]. - The net loss attributable to Air Products for the three months ended March 31, 2025, was $1,730.6 million, compared to a net income of $572.4 million in the same period of 2024, representing a significant decline [16]. - The company reported a comprehensive loss of $1,673.7 million for the three months ended March 31, 2025, compared to a comprehensive income of $487.8 million in the same period of 2024 [18]. - The company reported a net loss of $1,730.6 million for the three months ended March 31, 2025, compared to a net income of $572.4 million for the same period in 2024 [27]. - The basic earnings per share for the three months ended March 31, 2025, was ($7.77), a significant decrease from $2.57 in the prior year [128]. - The company reported a total of $5,847.7 million in sales for the six months ended March 31, 2025, compared to $5,927.6 million for the same period in 2024 [88]. Expenses and Costs - Research and development expenses decreased to $22.9 million for the three months ended March 31, 2025, down from $25.4 million in the same period of 2024, indicating a focus on cost management [16]. - The company incurred shareholder activism-related costs of $31.4 million for the three months ended March 31, 2025, which were not present in the same period of 2024 [16]. - The company recorded project exit costs of $2.861 billion during the second quarter of fiscal year 2025, primarily related to clean energy projects in the Americas segment [60]. - A project exit charge of approximately $1.8 billion was recorded due to the termination of the Master Project Agreement with World Energy, including $1.4 billion for asset write-downs [56]. - The company incurred business and asset actions costs of $2,927.9 million for the three months ended March 31, 2025, compared to $57.0 million in the same period of 2024 [16]. Assets and Liabilities - The total current assets decreased to $5,187.6 million as of March 31, 2025, from $6,363.0 million as of September 30, 2024, reflecting a reduction in cash and cash equivalents [21]. - Total liabilities increased to $22,093.3 million as of March 31, 2025, compared to $20,900.9 million as of September 30, 2024, indicating a rise in financial obligations [21]. - The company’s total equity decreased to $16,779.6 million as of March 31, 2025, down from $18,673.7 million as of September 30, 2024, reflecting the impact of the net loss [21]. - Total assets as of March 31, 2025, were $38,872.9 million, down from $39,574.6 million on September 30, 2024 [16]. - Long-term debt increased from $13,428.6 million as of September 30, 2024, to $14,153.1 million as of March 31, 2025, an increase of approximately 5.4% [21]. Cash Flow and Investments - Cash provided by operating activities decreased to $1,139.8 million for the six months ended March 31, 2025, down from $1,428.3 million in the prior year, reflecting a reduction of approximately 20.2% [23]. - Total cash used for investing activities increased to $4,419.4 million in the first half of 2025, compared to $3,226.0 million in the same period of 2024, marking a rise of about 37.0% [23]. - The balance of cash and cash items at the end of the period was $1,491.4 million, down from $2,535.0 million at the end of March 2024, indicating a decrease of approximately 41.1% [23]. - Cash payments related to unpaid benefits amounted to $23.9 million, with a remaining liability of $75.3 million expected to be resolved by the end of the second quarter of fiscal year 2026 [64]. Shareholder and Equity Information - Dividends paid to shareholders for the six months ended March 31, 2025, totaled $792.1 million, slightly up from $782.5 million in the same period of 2024 [25]. - The company’s total equity as of March 31, 2025, was $16,779.6 million, a decrease from $18,673.7 million as of September 30, 2024 [25]. - Dividends on common stock were $398.3 million, with a dividend per share of $1.79, compared to $393.5 million and $1.77 per share in the previous year [27]. Project and Joint Ventures - The NEOM Green Hydrogen Company joint venture has secured project financing of approximately $6.1 billion, expected to fund about 73% of the project costs [45]. - As of March 31, 2025, total assets associated with the NEOM Green Hydrogen Company amounted to $6.225 billion, an increase from $4.394 billion as of September 30, 2024 [48]. - The carrying value of the investment in the Jazan Integrated Gasification and Power Company joint venture was $3.060 billion as of March 31, 2025 [52]. - The NEOM Green Hydrogen Project is a multi-billion dollar facility powered by renewable energy, producing green ammonia for Air Products under a long-term agreement [42]. Tax and Regulatory Matters - Income tax payments, net of refunds, increased to $710.1 million for the six months ended March 31, 2025, compared to $321.8 million for the same period in 2024 [135]. - The effective tax rate for the three months ended March 31, 2025, was 22.5%, reflecting a tax benefit of $505.8 million on pre-tax losses [129]. - The company is evaluating the impact of new accounting guidance on climate-related disclosures, which may take effect in fiscal year 2026 [37]. - The company plans to adopt the new segment reporting standards effective for the fiscal year ending September 30, 2025, expanding segment financial information disclosures [38].

Core Viewpoint - Air Products and Chemicals, Inc. (APD) shares declined by 2% as investors reacted to disappointing results and guidance [1] Group 1: Company Performance - The company has experienced significant turmoil in recent months, including an activist fight and the departure of a long-tenured executive [1]

Core Viewpoint - Air Products and Chemicals, Inc. reported a significant loss in Q2 fiscal 2025, with adjusted earnings per share falling short of expectations due to lower volumes and higher costs, despite some favorable pricing [1][2][6]. Financial Performance - The company recorded a loss of $7.77 per share compared to earnings of $2.57 per share in the same quarter last year [1]. - Adjusted earnings per share were $2.69, missing the Zacks Consensus Estimate of $2.84, and fell 6% from the prior-year quarter [1]. - Revenues totaled $2,916.2 million, down approximately 0.5% year-over-year, and also below the Zacks Consensus Estimate of $2,950.1 million [2]. - Operating income decreased by 2% to $366 million due to higher expenses from planned maintenance [3]. Segment Performance - In the Americas segment, revenues increased by 3.3% year-over-year to $1,287.2 million, but missed the consensus estimate of $1,350 million [2]. - The Europe segment saw revenues rise by 8.9% to $727.4 million, exceeding the consensus estimate of $686 million, although operating income declined by 3% [3]. - The Asia segment experienced a revenue decline of 0.7% to $774.1 million, falling short of the consensus estimate of $782 million, with operating income down 6% [4]. Financial Position - Cash and cash equivalents at the end of the quarter were $1,491.4 million, a decrease of about 19% from the previous quarter [5]. - Long-term debt increased by approximately 7.5% sequentially to $14,153.1 million [5]. Outlook - The company revised its full-year fiscal 2025 adjusted EPS outlook to a range of $11.85 to $12.15, with expectations of adjusted EPS between $2.90 and $3.00 for Q3 fiscal 2025 [6]. - Anticipated capital expenditures for fiscal 2025 are around $5 billion [6]. Stock Performance - Air Products' shares have increased by 14.1% over the past year, contrasting with a 24.7% decline in the industry [7].

Core Insights - Air Products and Chemicals (APD) reported revenue of $2.92 billion for the quarter ended March 2025, reflecting a year-over-year decline of 0.5% and an EPS of $2.69, down from $2.85 a year ago [1] - The reported revenue fell short of the Zacks Consensus Estimate of $2.95 billion, resulting in a surprise of -1.15%, while the EPS also missed the consensus estimate of $2.84 by -5.28% [1] Revenue Breakdown - Revenue from the Americas was $1.29 billion, below the average estimate of $1.35 billion, marking a year-over-year increase of +3.3% [4] - Revenue from the Middle East and India was $32.80 million, compared to the average estimate of $35.24 million, representing a year-over-year decline of -8.1% [4] - Revenue from Europe reached $727.40 million, exceeding the average estimate of $685.93 million, with a year-over-year increase of +8.9% [4] - Revenue from Asia was $774.10 million, slightly below the average estimate of $781.77 million, indicating a year-over-year change of -0.7% [4] Stock Performance - Shares of Air Products and Chemicals have returned -8.1% over the past month, contrasting with the Zacks S&P 500 composite's -0.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Core Viewpoint - Air Products and Chemicals reported quarterly earnings of $2.69 per share, missing the Zacks Consensus Estimate of $2.84 per share, and down from $2.85 per share a year ago [1][2] Financial Performance - The company posted revenues of $2.92 billion for the quarter ended March 2025, missing the Zacks Consensus Estimate by 1.15%, and down from $2.93 billion year-over-year [3] - The earnings surprise for the quarter was -5.28%, and the company has not beaten consensus revenue estimates over the last four quarters [2][3] Stock Performance - Air Products and Chemicals shares have declined approximately 6.5% since the beginning of the year, compared to a decline of 5.3% for the S&P 500 [4] - The current Zacks Rank for the stock is 3 (Hold), indicating expected performance in line with the market in the near future [7] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $3.31 on revenues of $3.03 billion, and for the current fiscal year, it is $12.65 on revenues of $12.15 billion [8] - The estimate revisions trend for the company is mixed, and future earnings expectations will be influenced by management's commentary on the earnings call [5][6] Industry Context - The Chemical - Diversified industry, to which Air Products and Chemicals belongs, is currently in the bottom 17% of over 250 Zacks industries, indicating potential challenges ahead [9]