Air Products and Chemicals Q1 Earnings Call Highlights

Europe: Sales and operating income increased on volume and price, with favorable currency also contributing. Higher volumes were driven by on-site (including a prior-year turnaround comparison) and non-helium merchant volumes. Management also cited higher depreciation and fixed cost inflation as offsets despite productivity improvements. In response to a question about sequential margin pressure, Schaeffer attributed margin impacts to cost pressures including depreciation and wage inflation, with seasonalit ...