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].

Shares of Air Products and Chemicals, Inc. ( APD ) fell 2% early on Thursday as investors digested disappointing results and guidance . This company has faced significant tumult in recent months, amidst an activist fight, departure of its long-tenuredOver fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a question for an article, jus ...

Air Products and Chemicals, Inc. (APD) logged a second-quarter fiscal 2025 (ended March 31, 2025) loss of $7.77 per share. This compares unfavorably with earnings of $2.57 per share recorded in the year-ago quarter. Barring one-time items, adjusted earnings per share were $2.69, missing the Zacks Consensus Estimate of $2.84. Adjusted earnings fell 6% from the prior-year quarter due to lower volumes and higher costs, partly offset by favorable pricing.The industrial gases giant reported revenues of $2,916.2 ...

Air Products and Chemicals (APD) reported $2.92 billion in revenue for the quarter ended March 2025, representing a year-over-year decline of 0.5%. EPS of $2.69 for the same period compares to $2.85 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $2.95 billion, representing a surprise of -1.15%. The company delivered an EPS surprise of -5.28%, with the consensus EPS estimate being $2.84.While investors scrutinize revenue and earnings changes year-over-year and how they compare wi ...

Air Products and Chemicals (APD) came out with quarterly earnings of $2.69 per share, missing the Zacks Consensus Estimate of $2.84 per share. This compares to earnings of $2.85 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.28%. A quarter ago, it was expected that this seller of gases for industrial, medical and other uses would post earnings of $2.86 per share when it actually produced earnings of $2.86, delivering no su ...

Financial Data and Key Metrics Changes - The second quarter adjusted earnings per share (EPS) was $2.69, below previous guidance of $2.75 to $2.85, primarily due to changes in cost estimates and lower helium contributions [20][24] - Sales volume decreased by 3%, with 2% attributed to the LNG business divestment, while total company price increased by 1% [20][21] - Adjusted operating income decreased by 9%, mainly due to LNG divestiture and unfavorable helium impact, with operating margin down by 210 basis points [21][22] Business Line Data and Key Metrics Changes - The core industrial gas business generated approximately $12 billion in sales with an operating margin of 24% [6] - The LNG business divestiture accounted for a $0.12 headwind on EPS, while helium volume was down, offset by favorable on-site volumes [22][23] - The company anticipates base business growth of 2% to 5% for the fiscal year despite a 5% headwind in helium [24] Market Data and Key Metrics Changes - The company has become the leading supplier of hydrogen and high purity gases for the electronics industry, with significant pipeline networks in the U.S. Gulf Coast [4][5] - The company expects to unlock significant potential with projects in Saudi Arabia and Louisiana, aiming for a 30% adjusted operating margin by 2030 [17][18] Company Strategy and Development Direction - The company plans to refocus on its core industrial gas business and invest approximately $1.5 billion per year in industrial gas projects [10][11] - The strategy includes canceling underperforming projects and prioritizing high-return opportunities with contracted take-or-pay agreements [12][14] - The company aims to maximize profitability through operational excellence and rightsizing the organization [15][17] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding green hydrogen projects in Saudi Arabia and Louisiana, focusing on derisking strategies [11][12] - The company anticipates high single-digit adjusted EPS growth and improved operating margins in the coming years, despite challenges from underperforming projects [17][18] - Management emphasized the importance of transparent communication with investors and a disciplined approach to capital allocation [18] Other Important Information - The company has identified approximately 2,400 positions for reduction, aiming for a run rate of around $100 million in savings from FY 2025 actions [50][51] - The total cost for the net zero hydrogen project in Edmonton is now expected to be $3.3 billion, with a projected on-stream date between late 2027 and early 2028 [14] Q&A Session Summary Question: What is the EBITDA contribution from underperforming projects? - Management expects to recover capital on an undiscounted basis, indicating a challenging situation with significant increases in capital costs [28][29] Question: What is the status of the Alberta project? - The Alberta project has faced delays and cost overruns due to construction challenges and contractor productivity issues [29][31] Question: What is the rationale for pursuing ammonia in Louisiana? - The company is considering focusing solely on hydrogen, aiming to reduce total CapEx while securing firm offtake agreements [40][41] Question: What is the expected contribution from helium? - Helium remains a volatile earnings contributor, with expectations of continued headwinds in pricing through 2026 and 2027 [78][80] Question: What are the cash flow expectations for 2026? - The company anticipates being cash flow positive, including dividends, with a focus on managing capital expenditures effectively [74][86]

Air Products and Chemicals (APD) Q2 2025 Earnings Call May 01, 2025 08:00 AM ET Speaker0 EBITDA, the effective tax rate and ROCE either on a total company or segment basis. Unless we specifically state otherwise, statements regarding these measures refer to our adjusted non GAAP financial measures. Reconciliations of these measures to our most directly comparable GAAP financial measures can be found on our investor website in the relevant earnings release section. Now I'll turn the call over to Eduardo. Spe ...

Exhibit 99.1 News Release Air Products Reports Fiscal 2025 Second Quarter Results Second quarter sales of $2.9 billion were flat as four percent higher energy cost pass-through and one percent higher pricing were offset by three percent lower volumes, primarily due to the LNG divestiture, and two percent unfavorable currency. -more- • GAAP results, including loss per share of $7.77 and net loss of $1.7 billion, driven by an after-tax charge attributable to Air Products of $2.3 billion for business and asset ...

Fiscal Second Quarter 2025 Earnings Results Teleconference May 1, 2025 Forward-Looking Statements This presentation contains "forward-looking statements" within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements about earnings guidance, business outlook and investment opportunities. These forward-looking statements are based on management's expectations and assumptions as of the date of this presentation and are not guarantees of future performance. Whil ...