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Jun 30, 2023
Air Products Q3 2023 Earnings Report
Air Products reported mixed results with increased adjusted EPS and EBITDA but decreased sales due to lower energy cost pass-through.
Key Takeaways
Air Products reported Q3 fiscal year 2023 results, with GAAP EPS up two percent and adjusted EPS up 16 percent. Increased pricing and volumes drove improved results across all regional segments. The company raised its full-year adjusted EPS guidance.
GAAP EPS of $2.67, up two percent year-over-year.
Adjusted EPS of $2.98, up 16 percent year-over-year.
Adjusted EBITDA of $1.2 billion, up 12 percent year-over-year.
Increased fiscal 2023 full-year adjusted EPS guidance to $11.40 to $11.50.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Air Products expects increased full-year fiscal 2023 adjusted EPS guidance of $11.40 to $11.50, up 11 to 12 percent over prior year adjusted EPS. For the fiscal 2023 fourth quarter, Air Products' adjusted EPS guidance is $3.04 to $3.14, up seven to 10 percent over fiscal 2022 fourth quarter adjusted EPS.
Positive Outlook
- Increased full-year fiscal 2023 adjusted EPS guidance to $11.40 - $11.50.
- Fourth quarter adjusted EPS guidance of $3.04 - $3.14.
- Up 11-12% over prior year adjusted EPS for the full year.
- Up 7-10% over fiscal 2022 fourth quarter adjusted EPS.
- Capital expenditures of $5.0 billion to $5.5 billion expected 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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