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Mar 31, 2023
Air Products Q2 2023 Earnings Report
Reported GAAP EPS decreased by 17 percent and adjusted EPS increased by 17 percent.
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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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