Core Insights - Air Products and Chemicals (APD) shares declined over 5% to $310.13 after the company's earnings outlook for the current quarter missed expectations [5] - The company reported adjusted earnings of $636.9 million, or $2.86 per share, on revenue of $2.93 billion for the fiscal first quarter, which was roughly in line with analysts' estimates [1][5] - The adjusted earnings outlook for the second quarter is projected to be between $2.75 and $2.85 per share, significantly below analyst consensus [2] Leadership Changes - The earnings report was released shortly after the appointment of a new CEO, Eduardo Menezes, a former executive at Linde, who replaced Seifi Ghasemi [3] - This leadership change followed a proxy battle with activist investment firm Mantle Ridge, which criticized the previous leadership for underperformance compared to industry rivals and the broader market [4] - Mantle Ridge successfully got three of its four nominees elected to Air Products' board last month [4]

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 31 December 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 (Stat ...

Air Products and Chemicals, Inc. (APD) logged first-quarter fiscal 2025 (ended Dec. 31, 2024) earnings of $2.77 per share, up from $2.73 recorded in the year-ago quarter. The bottom line was driven by higher pricing and productivity improvements that more than offset higher costs.Barring one-time items, adjusted earnings per share (EPS) were $2.86. It matched the Zacks Consensus Estimate.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The industrial gases giant recorded revenues of $2 ...

Financial Data and Key Metrics Changes - The first-quarter adjusted earnings per share (EPS) was $2.86, exceeding the upper end of the guidance range of $2.75 to $2.85, representing a 1% increase over the previous year [19][20] - Adjusted EBITDA margin increased by 140 basis points, and adjusted operating margin rose by 80 basis points compared to the prior year [20] - Overall volume decreased by 2%, primarily due to the divestment of the LNG business, which contributed approximately $0.08 to EPS in the prior year [20][24] Business Line Data and Key Metrics Changes - In the Americas, overall pricing increased by 2%, with a 4% gain in merchant pricing, and a 3% volume improvement driven by a significant non-recurring helium sale [27] - The Asia segment saw a 2% volume improvement due to contributions from new assets, with adjusted EBITDA increasing by 7% [29] - In Europe, broad-based pricing improved by 1%, but volume decreased by 5% due to lower onsite demand and continued weakness in merchant demand, particularly for helium [29] Market Data and Key Metrics Changes - The company is monitoring the strengthening U.S. dollar, tariffs, and the global helium market for potential impacts for the remainder of the year [21] - The helium market is currently long, with helium coming from Russian assets into Asia, affecting pricing dynamics [70] Company Strategy and Development Direction - The company is focused on driving productivity and evaluating actions to reduce costs and improve services to customers [22] - The Uzbekistan project is undergoing planned facility upgrades, expected to return to normal operation by the start of the third quarter [30][110] Management's Comments on Operating Environment and Future Outlook - Management indicated that the market in China remains challenging, with no material improvement expected in the near term [34] - The company does not anticipate significant improvement in global industrial production, projecting only about a 2% increase [115] Other Important Information - The company is maintaining its fiscal 2025 full-year guidance and expects second-quarter adjusted EPS to be in the range of $2.75 to $2.85 [21][22] - The company is still projecting to be net cash-flow positive by fiscal 2027 [125] Q&A Session Summary Question: How should the Street be thinking about the outlook in Asia? - Management noted that while there was support from new assets, the market remains challenging with no material improvement expected [34] Question: Can you provide a breakdown on the CapEx outlook for the fiscal year? - The majority of the $4.5 billion to $5 billion CapEx will be deployed to large projects, with about $750 million for ongoing maintenance [50] Question: What was the helium EBITDA contribution in the Americas in the quarter? - The one-time helium sale contributed approximately $0.10 to EPS for the quarter [63] Question: Can you talk about the equity affiliate income decline in the Middle East and India? - The decline was primarily due to fluctuations in the Jazan joint venture, but contributions are expected to be on par with 2024 [77] Question: What is the expected contribution from the Uzbekistan project in 2025? - The project is expected to fully ramp up in Q3, contributing approximately $0.35 to $0.36 to EPS on an annualized basis [145]

Creating Shareholder Value Eduardo F. Menezes CEO of Air Products • Three-and-a-half decades of leadership experience in industrial gases • Joining the Air Products Board First Quarter 2025 Earnings Results Teleconference February 6, 2025 Air Products Leadership • 35 years senior management experience in chemicals industries, including extensive industrial gases leadership and operational experience Wayne T. Smith Chairman of the Board • CEO effective February 7, 2025 • Air Products Director since 2021 Forw ...

Air Products and Chemicals (APD) came out with quarterly earnings of $2.86 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $2.82 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this seller of gases for industrial, medical and other uses would post earnings of $3.44 per share when it actually produced earnings of $3.56, delivering a surprise of 3.49%.Over the last four quarters, the company has surpassed consensus ...

News Release Exhibit 99.1 Air Products and Chemicals, Inc. 1940 Air Products Boulevard, Allentown, PA 18106-5500 www.airproducts.com Air Products Announces Preliminary Q1FY25 GAAP EPS of $2.77 and Adjusted EPS of $2.86, Exceeding Company's Previous Adjusted EPS Guidance for the Quarter Live teleconference: 773-305-6853 Passcode: 3870353 Internet broadcast/slides: Available on the Event Details page on Air Products' Investor Relations website. Internet replay: Available on the Event Details page on Air Produ ...

Q1 FY25 (comparisons versus prior year): GAAP EPS# of $2.77, up one percent; GAAP net income of $650 million, up five percent; and GAAP net income margin of 22.2 percent, up 150 basis points Adjusted EPS* of $2.86, up one percent; adjusted EBITDA* of $1.2 billion, up one percent; and adjusted EBITDA margin* of 40.6 percent, up 140 basis points Fiscal 2025 and Recent Highlights Increased quarterly dividend on the Company's common stock to $1.79 per share, marking the 43rd consecutive year of dividend incr ...

Core Viewpoint - Air Products announces the appointment of Eduardo F. Menezes as the new CEO, succeeding Seifi Ghasemi, who has served the company for over 10 years [1][5][3] Leadership Changes - Wayne T. Smith has been named Chairman of the Board, and Dennis H. Reilley has been appointed Vice Chairman [2] - The new leadership team will collaborate closely with Mr. Menezes to advance the company's objectives [2] New CEO Profile - Eduardo Menezes brings over 35 years of experience in the industrial gases sector, having held senior roles at Linde plc and Praxair [3] - His previous role as EVP at Linde plc involved overseeing operations in more than 40 countries, generating over $8 billion in sales [3] - Menezes holds an M.B.A. and a degree in chemical engineering, equipping him with the necessary expertise for his new role [4] Contributions of Seifi Ghasemi - Seifi Ghasemi has been recognized for his leadership and contributions to Air Products over the past decade, focusing on profitability and growth [5] - Under his leadership, the company achieved significant advancements and success, attributed to the efforts of its dedicated employees [5] Company Overview - Air Products is a leading industrial gases company with over 80 years of operation, focusing on energy, environmental, and emerging markets [10] - The company reported fiscal 2024 sales of $12.1 billion and operates in approximately 50 countries, with a market capitalization exceeding $65 billion [11]

Analysts on Wall Street project that Air Products and Chemicals (APD) will announce quarterly earnings of $2.86 per share in its forthcoming report, representing an increase of 1.4% year over year. Revenues are projected to reach $3.01 billion, increasing 0.3% from the same quarter last year.The consensus EPS estimate for the quarter has undergone a downward revision of 0.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their in ...