Air Products' Earnings Meet Estimates, Revenues Miss in Q1

Core Insights - Air Products and Chemicals, Inc. (APD) reported first-quarter fiscal 2025 earnings of $2.77 per share, an increase from$2.73 in the same quarter last year, driven by higher pricing and productivity improvements [1] - Adjusted earnings per share (EPS) were $2.86, matching the Zacks Consensus Estimate [1] - Revenues totaled$2,931.5 million, down approximately 2.2% year over year, missing the Zacks Consensus Estimate of $3,005.9 million due to lower volumes and adverse currency effects [2] Segment Performance - The Americas segment saw revenues increase by 2.8$1,287.6 million, although it fell short of the consensus estimate of $1,296.8 million, with higher volumes from a significant helium sale and pricing offsetting reduced energy costs and adverse currency [3] - Revenues in the Europe segment decreased by 4.6$697.2 million, missing the consensus estimate of $729.6 million, primarily due to reduced on-site services and helium sales, despite some offset from higher pricing [4] - The Asia segment experienced a revenue increase of 2.9$817.1 million, surpassing the consensus estimate of $800.9 million, driven by higher volumes from new assets and energy cost pass-through, despite lower currency impacts [5] Financial Overview - Cash and cash equivalents at the end of the quarter were$1,845.5 million, down about 38% sequentially, while long-term debt decreased by 2% to $13,170.5 million [6] - The company maintains its full-year fiscal 2025 adjusted EPS guidance of$12.70 to $13.00 and expects adjusted EPS for the second quarter to be between$2.75 and $2.85 [7] Stock Performance - APD's shares have increased by 52.7% over the past year, compared to a 2.2% rise in the industry [8]