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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.
Revenue by Segment
Revenue by Geographic Location
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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