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Dec 31, 2022
Air Products Q1 2023 Earnings Report
Reported first quarter fiscal 2023 results with GAAP EPS of $2.57 and adjusted EPS of $2.64.
Key Takeaways
Air Products reported a six percent increase in first quarter sales to $3.2 billion, driven by higher pricing and volumes. GAAP EPS increased by two percent to $2.57, while adjusted EPS rose by six percent to $2.64. The company is maintaining its full-year adjusted EPS guidance of $11.20 to $11.50.
GAAP EPS was $2.57, up two percent year-over-year.
Adjusted EPS was $2.64, up six percent year-over-year.
Sales increased six percent year-over-year to $3.2 billion.
Increased quarterly dividend by 13 cents per share to $1.75.
Air Products
Air Products
Air Products Revenue by Segment
Air Products Revenue by Geographic Location
Revenue by Segment
Americas Revenue
CapyFin.comAsia Revenue
CapyFin.comCorporate and Other Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comAsia Revenue
CapyFin.comEurope Revenue
CapyFin.com Forward Guidance
Air Products continues to expect full-year fiscal 2023 adjusted EPS guidance of $11.20 to $11.50, up nine to 12 percent over prior year adjusted EPS. For the fiscal 2023 second quarter, Air Products' adjusted EPS guidance is $2.50 to $2.70, up seven to 15 percent over fiscal 2022 second quarter adjusted EPS. Air Products continues to expect capital expenditures of $5.0 - $5.5 billion for full-year fiscal 2023.
Positive Outlook
- Maintaining fiscal 2023 full-year adjusted EPS guidance of $11.20 to $11.50.
- Fiscal 2023 second quarter adjusted EPS guidance of $2.50 to $2.70.
- Expecting capital expenditures of $5.0 - $5.5 billion for full-year fiscal 2023.
- Adjusted EPS is expected to increase by 9-12% for the full year.
- Adjusted EPS is expected to increase by 7-15% for the second quarter.
Challenges Ahead
- Unfavorable currency impacts due to the strengthening of the U.S. Dollar.
- Higher costs partially offset higher pricing and volumes.
- Economic weakness creates challenges.
- Currency challenges create headwinds.
- Other headwinds impact results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income