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Dec 31, 2024
Air Products Q1 2025 Earnings Report
Air Products reported Q1 2025 earnings with a slight increase in EPS and adjusted EPS, driven by higher pricing and favorable business mix, but offset by increased costs and lower volumes due to divestiture.
Key Takeaways
Air Products reported a mixed first quarter for fiscal year 2025. GAAP EPS increased by one percent to $2.77, and adjusted EPS also rose by one percent to $2.86. Net income saw a five percent increase, reaching $650 million. Sales, however, decreased by two percent to $2.9 billion, influenced by lower volumes due to the LNG business divestiture and unfavorable currency exchange, although higher pricing partially offset these declines.
GAAP EPS increased by one percent to $2.77; net income increased by five percent to $650 million.
Adjusted EPS increased by one percent to $2.86; adjusted EBITDA increased by one percent to $1.2 billion.
Sales decreased by two percent to $2.9 billion due to lower volumes, including the impact of the LNG divestiture.
Maintained fiscal year 2025 full-year adjusted EPS guidance of $12.70 to $13.00.
Air Products
Air Products
Air Products Revenue by Segment
Air Products Revenue by Geographic Location
Revenue by Segment
Americas Revenue
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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 2025 adjusted EPS guidance of $12.70 to $13.00. For the fiscal 2025 second quarter, Air Products' adjusted EPS guidance is $2.75 to $2.85. Air Products expects capital expenditures in the range of $4.5 billion to $5.0 billion for full-year fiscal 2025.
Positive Outlook
- Full-year fiscal 2025 adjusted EPS guidance maintained at $12.70 to $13.00.
- Fiscal 2025 second quarter adjusted EPS guidance is $2.75 to $2.85.
- Expects capital expenditures in the range of $4.5 billion to $5.0 billion for full-year fiscal 2025.
- Higher pricing, net of power and fuel costs, contributed positively to earnings.
- Favorable business mix improved GAAP net income margin.
Challenges Ahead
- Sales decreased by two percent due to lower volumes driven by the LNG divestiture.
- Higher costs related to shareholder activism and incentive compensation impacted earnings.
- Lower equity affiliates' income affected adjusted EBITDA.
- Unfavorable currency exchange rates negatively impacted sales.
- Divestiture of LNG business reduced sales.
Revenue & Expenses
Visualization of income flow from segment revenue to net income