Air Products Q2 2023 Earnings Report
Key Takeaways
Air Products reported second quarter fiscal 2023 results, including GAAP EPS from continuing operations of $1.97, down 17 percent from prior year. Adjusted EPS from continuing operations of $2.74 increased 17 percent over the prior year. Second quarter sales of $3.2 billion increased nine percent over the prior year.
GAAP EPS of $1.97, down 17 percent; GAAP net income of $450 million, down 16 percent.
Adjusted EPS of $2.74, up 17 percent; adjusted EBITDA of $1,151 million, up 13 percent.
Higher pricing and volume drove improved results in all regional segments
Increased fiscal 2023 full-year adjusted EPS guidance to $11.30 to $11.50, up 10 to 12 percent over prior year adjusted EPS.
Air Products
Air Products
Air Products Revenue by Segment
Air Products Revenue by Geographic Location
Forward Guidance
Air Products expects full-year fiscal 2023 adjusted EPS guidance of $11.30 to $11.50, up 10 to 12 percent over prior year adjusted EPS. For the fiscal 2023 third quarter, Air Products' adjusted EPS guidance is $2.85 to $2.95, up 10 to 14 percent over fiscal 2022 third quarter adjusted EPS. Air Products continues to expect capital expenditures of $5.0 - $5.5 billion for full-year fiscal 2023.
Positive Outlook
- Full-year fiscal 2023 adjusted EPS guidance of $11.30 to $11.50, up 10 to 12 percent over prior year adjusted EPS.
- Fiscal 2023 third quarter, adjusted EPS guidance is $2.85 to $2.95, up 10 to 14 percent over fiscal 2022 third quarter adjusted EPS.
- Capital expenditures of $5.0 - $5.5 billion for full-year fiscal 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income