Bjoern Wylezich Here at the Lab, today, we are back to comment on Air Products and Chemicals (NYSE:APD). The company released solid Third-Quarter 2024 results, which confirm our positive forward-thinking view. The continuous execution of two pillars backs our buy rating recommendation: 1) a project backlog to drive the hydrogen revolution and the energy transition, and 2) a rock-solid company with 40+ consecutive years of dividend increases. That said, ADP and other industrial gas companies like Linde and A ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended 30 June 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-04534 AIR PRODUCTS AND CHEMICALS, INC. (Exact name of registrant as specified in its charter) Delaware 23-1274455 (State or ...

Bjoern Wylezich It has been a rocky year for Air Products and Chemicals, Inc. (NYSE:APD) with shares down 13% from a year ago. However, investors got some much-needed relief on Thursday when shares popped over 10% in response to mixed earnings that simply were not as bad as feared. I last covered APD in May, rating shares a "buy," and since that recommendation, it has rallied 13% vs. the market's 4% gain. With new financial data and this appreciation, now is a good time to revisit Air Products. I remain bul ...

After sliding for most of the week, Air Products stock popped following a strong earnings report.With shares of Air Products and Chemicals (APD 9.85%) closing lower on Tuesday and Wednesday this week, it seemed that investors were wary of the company's reporting of its third-quarter results. This morning, however, those fears were evidently erased as the producer and distributer of industrial gases reported strong third-quarter earnings before the market opened.As of 10:42 a.m. ET on Thursday, shares of Air ...

Air Products and Chemicals, Inc. (NYSE:APD) Q3 2024 Earnings Conference Call August 1, 2024 8:30 AM ET Company Participants Sidd Manjeshwar - Vice President, Investor Relations Seifi Ghasemi - Chairman, President and Chief Executive Officer Eric Guter - Investor Relations Melissa Schaeffer - Chief Financial Officer Conference Call Participants John McNulty - BMO Capital Markets Jeff Zekauskas - JPMorgan Vincent Andrews - Morgan Stanley David Begleiter - Deutsche Bank Chris Parkinson - Wolfe Research Duffy F ...

For the quarter ended June 2024, Air Products and Chemicals (APD) reported revenue of $2.99 billion, down 1.6% over the same period last year. EPS came in at $3.20, compared to $2.98 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $3.04 billion, representing a surprise of -1.79%. The company delivered an EPS surprise of +5.26%, with the consensus EPS estimate being $3.04.While investors scrutinize revenue and earnings changes year-over-year and how they compare with ...

Core Viewpoint - Air Products and Chemicals, Inc. reported a year-over-year increase in earnings per share for the third quarter of fiscal 2024, despite a slight decline in revenues, primarily due to unfavorable currency impacts and lower energy cost pass-throughs [1][2]. Financial Performance - Earnings from continuing operations for Q3 fiscal 2024 were $3.13 per share, up from $2.67 in the same quarter last year [1]. - Adjusted earnings per share, excluding one-time items, were $3.20, surpassing the Zacks Consensus Estimate of $3.04 [1]. - Total revenues for the quarter were $2,985.5 million, a decrease of approximately 1.6% year-over-year, and below the Zacks Consensus Estimate of $3,039.8 million [1]. Segment Highlights - Revenues in the Americas segment fell 2.1% year-over-year to $1,234.7 million, missing the Zacks Consensus Estimate of $1,279.6 million, due to lower energy cost pass-throughs and reduced volumes [2]. - The Europe segment saw a 1.9% decline in revenues to $693.4 million, also below the Zacks Consensus Estimate of $697.8 million, attributed to lower energy cost pass-throughs and adverse currency effects [2]. - The Asia segment experienced a 4% revenue decline to $789.6 million, which was above the Zacks Consensus Estimate of $783.8 million, with decreased demand for merchant products and reduced volumes being the main factors [2]. Financial Position - As of the end of Q3, the company had cash and cash equivalents of approximately $2,375.7 million, reflecting a 25% year-over-year increase [3]. - Long-term debt rose by 48% year-over-year to $12,786.4 million [3]. Outlook - Air Products maintained its full-year adjusted EPS projection for fiscal 2024 at $12.20 to $12.50, indicating a 6-9% increase from the previous year [4]. - The adjusted EPS guidance for the fiscal fourth quarter is set at $3.33-$3.63 [4]. - The company anticipates capital expenditures between $5 billion and $5.5 billion for fiscal 2024 [4]. Price Performance - Over the past year, the company's shares have declined by 11.8%, compared to an 8.1% decline in the industry [5].

Company Performance - Air Products and Chemicals reported quarterly earnings of $3.20 per share, exceeding the Zacks Consensus Estimate of $3.04 per share, and up from $2.98 per share a year ago, representing an earnings surprise of 5.26% [1] - The company posted revenues of $2.99 billion for the quarter ended June 2024, which was below the Zacks Consensus Estimate by 1.79% and a decrease from $3.03 billion year-over-year [1] - Over the last four quarters, the company has surpassed consensus EPS estimates three times but has not beaten consensus revenue estimates [1] Stock Performance and Outlook - Air Products and Chemicals shares have declined approximately 3.6% since the beginning of the year, contrasting with the S&P 500's gain of 15.8% [2] - The current consensus EPS estimate for the upcoming quarter is $3.50 on revenues of $3.26 billion, and for the current fiscal year, it is $12.26 on revenues of $12.28 billion [4] Industry Context - The Chemical - Diversified industry, to which Air Products and Chemicals belongs, is currently ranked in the bottom 5% of over 250 Zacks industries, indicating potential challenges for stock performance [5] - Another company in the same industry, Innospec, is expected to report quarterly earnings of $1.37 per share, reflecting a year-over-year increase of 7%, with revenues anticipated to be $479.2 million, down 0.3% from the previous year [5][6]

Moving forward Creating Shareholder Value Third Quarter 2024 Earnings Results Teleconference August 1, 2024 Moving forward 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 presentatio ...

Exhibit 99.1 News Release Air Products and Chemicals, Inc. 1940 Air Products Boulevard Allentown, PA 18106-5500 www.airproducts.com Air Products Reports Fiscal 2024 Third Quarter GAAP EPS of $3.13 and Adjusted EPS of $3.20 Q3 FY24 (comparisons versus prior year): # • GAAP EPS of $3.13, up 17 percent; GAAP net income of $709 million, up 16 percent; and GAAP net income margin of 23.7 percent, up 360 basis points • Adjusted EPS* of $3.20, up seven percent; adjusted EBITDA* of $1.3 billion, up five percent; and ...