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Sep 30, 2024
Air Products Q4 2024 Earnings Report
Air Products reported Q4 2024 earnings with adjusted EPS up 13% and completed the divestiture of its LNG business.
Key Takeaways
Air Products reported a strong fiscal fourth quarter with adjusted EPS up 13% year over year and an industry-leading adjusted EBITDA margin of over 44%. The company completed the strategic divestiture of its LNG business and signed a 15-year agreement with TotalEnergies to supply green hydrogen.
Adjusted EPS increased by 13% year over year.
Adjusted EBITDA margin exceeded 44%.
Completed the divestiture of the LNG business.
Signed a 15-year agreement to supply green hydrogen to TotalEnergies.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Air Products expects full-year fiscal 2025 adjusted EPS of $12.70 to $13.00 and first quarter adjusted EPS of $2.75 to $2.85. Capital expenditures for fiscal year 2025 are expected to be in the range of $4.5 billion to $5.0 billion.
Positive Outlook
- Full-year fiscal 2025 adjusted EPS guidance of $12.70 to $13.00.
- Fiscal 2025 first quarter adjusted EPS guidance of $2.75 to $2.85.
- Capital expenditures expected in the range of $4.5 billion to $5.0 billion for full-year fiscal 2025.
- Completed the divestiture of its LNG business.
- Focus on core industrial gas business.
Challenges Ahead
- Unable to reconcile forecasted range of adjusted EPS to a comparable GAAP range without unreasonable effort.
- Uncertainty regarding the timing or occurrence of future events that may impact future GAAP EPS.
- Inability to reconcile forecasted capital expenditures to future cash used for investing activities without unreasonable effort.
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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