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Dec 31, 2021
Air Products Q1 2022 Earnings Report
Air Products reported strong Q1 2022 results driven by higher volumes, pricing, and equity affiliate income, despite facing unprecedented energy cost increases, supply chain disruptions, and the continuing pandemic.
Key Takeaways
Air Products reported a 26% increase in sales to $3.0 billion, with GAAP EPS of $2.52, up 19% and net income of $550 million, up 13% year over year. The company's performance was driven by higher volumes, pricing, and equity affiliate income, which offset higher costs.
GAAP EPS of $2.52, up 19 percent; GAAP net income of $550 million, up 13 percent.
Adjusted EPS of $2.52, up 19 percent; adjusted EBITDA of $1,003 million, up eight percent.
Increased quarterly dividend by eight percent to $1.62 per share.
Closed on Phase I of the ~$12 billion air separation unit/gasification/power joint venture with Aramco, ACWA Power and Air Products Qudra in Jazan Economic City, Saudi Arabia in late October.
Forward Guidance
Air Products continues to expect full-year fiscal 2022 adjusted EPS guidance of $10.20 to $10.40, up 13 to 15 percent over prior year adjusted EPS. For the fiscal 2022 second quarter, Air Products' adjusted EPS guidance is $2.30 to $2.40, up 11 to 15 percent over fiscal 2021 second quarter adjusted EPS. Air Products expects capital expenditures of $4.5 to $5.0 billion for full-year fiscal 2022.
Historical Earnings Impact
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