NYSE$APD
Air Products & Chemicals Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported first quarter fiscal 2023 results with GAAP EPS of $2.57 and adjusted EPS of $2.64.
Air Products reported a six percent increase in first quarter sales to $3.2 billion, driven by higher pricing and volumes. GAAP EPS increased by two percent to $2.57, while adjusted EPS rose by six percent to $2.64. The company is maintaining its full-year adjusted EPS guidance of $11.20 to $11.50.
- GAAP EPS was $2.57, up two percent year-over-year.
- Adjusted EPS was $2.64, up six percent year-over-year.
- Sales increased six percent year-over-year to $3.2 billion.
- Increased quarterly dividend by 13 cents per share to $1.75.
Headline financials
Revenue & EPS history
Air Products · Revenue · Quarterly
$3.17B
Revenue by segment
Air Products · $2.34B total across 3 segments · Q1 2023
- Americas$1.38B—59.1%
- Asia$778M—33.2%
- Corporate and other$179M—7.7%
Forward guidance
Air Products continues to expect full-year fiscal 2023 adjusted EPS guidance of $11.20 to $11.50, up nine to 12 percent over prior year adjusted EPS. For the fiscal 2023 second quarter, Air Products' adjusted EPS guidance is $2.50 to $2.70, up seven to 15 percent over fiscal 2022 second quarter adjusted EPS. Air Products continues to expect capital expenditures of $5.0 - $5.5 billion for full-year fiscal 2023.
Tailwinds
- Maintaining fiscal 2023 full-year adjusted EPS guidance of $11.20 to $11.50.
- Fiscal 2023 second quarter adjusted EPS guidance of $2.50 to $2.70.
- Expecting capital expenditures of $5.0 - $5.5 billion for full-year fiscal 2023.
- Adjusted EPS is expected to increase by 9-12% for the full year.
- Adjusted EPS is expected to increase by 7-15% for the second quarter.
Headwinds
- Unfavorable currency impacts due to the strengthening of the U.S. Dollar.
- Higher costs partially offset higher pricing and volumes.
- Economic weakness creates challenges.
- Currency challenges create headwinds.
- Other headwinds impact results.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-0.3%
Avg return
Earnings day
-0.2%
Avg return
5 days after
+0.9%
Avg return
30 days after
45%
33 / 73 earnings
Positive
+12.6%
Q4 2022
Best reaction
-15.5%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -0.1% | +0.5% | -8.0% | |
| Q1 2026 | +6.6% | +11.9% | +7.7% | |
| Q4 2025 | +8.9% | +10.4% | +9.7% | |
| Q3 2025 | -0.8% | +0.8% | +1.4% | |
| Q2 2025 | +0.4% | -1.3% | +2.9% | |
| Q1 2025 | -1.5% | -7.1% | -5.0% | |
| Q4 2024 | +2.0% | +1.4% | +4.4% | |
| Q3 2024 | +6.8% | +5.6% | +5.7% | |
| Q2 2024 | -0.3% | +3.3% | +9.4% | |
| Q1 2024 | -15.5% | -14.8% | -5.8% | |
| Q4 2023 | -10.8% | -8.9% | -10.1% | |
| Q3 2023 | -5.0% | -5.3% | -0.4% | |
| Q2 2023 | -4.9% | -5.9% | -4.1% | |
| Q1 2023 | -10.4% | -10.4% | -7.3% | |
| Q4 2022 | +12.6% | +15.4% | +29.9% | |
| Q3 2022 | +6.9% | +5.3% | +0.3% | |
| Q2 2022 | -4.7% | -6.8% | +1.9% | |
| Q1 2022 | -9.4% | -7.7% | -18.7% | |
| Q4 2021 | +2.4% | +3.9% | -4.5% | |
| Q3 2021 | -4.5% | -3.8% | -7.9% | |
| Q2 2021 | +3.5% | +3.6% | +2.3% | |
| Q1 2021 | -8.5% | -8.0% | -4.6% | |
| Q4 2020 | -14.4% | -14.0% | -13.7% | |
| Q3 2020 | -1.4% | -2.1% | -3.1% | |
| Q2 2020 | +1.1% | +4.3% | +9.3% | |
| Q1 2020 | -1.6% | -0.0% | +7.5% | |
| Q4 2019 | +6.9% | +8.3% | +6.0% | |
| Q3 2019 | +2.5% | +3.1% | -1.9% | |
| Q2 2019 | +1.5% | +3.5% | +4.0% | |
| Q1 2019 | +2.2% | +4.8% | +15.1% | |
| Q4 2018 | +2.3% | +1.6% | +2.5% | |
| Q3 2018 | +2.5% | +4.4% | +5.5% | |
| Q2 2018 | -0.3% | -1.9% | -0.3% | |
| Q1 2018 | -4.2% | -3.2% | -5.6% | |
| Q4 2017 | +4.1% | +3.1% | +4.5% | |
| Q3 2017 | +4.2% | +3.6% | +2.3% | |
| Q2 2017 | -0.8% | +1.4% | +1.6% | |
| Q1 2017 | -5.3% | -6.8% | -5.3% | |
| Q4 2016 | +0.6% | -0.5% | +6.4% | |
| Q3 2016 | +0.3% | -0.5% | +3.5% | |
| Q2 2016 | -1.6% | — | — | |
| Q1 2016 | +10.3% | — | — | |
| Q4 2015 | -2.2% | — | — | |
| Q3 2015 | +6.2% | — | — | |
| Q2 2015 | -3.5% | — | — | |
| Q1 2015 | +4.9% | — | — | |
| Q4 2014 | +4.5% | — | — | |
| Q3 2014 | +3.7% | — | — | |
| Q2 2014 | -0.6% | — | — | |
| Q1 2014 | -0.2% | — | — | |
| Q4 2013 | -2.1% | — | — | |
| Q3 2013 | +2.7% | — | — | |
| Q2 2013 | -0.6% | — | — | |
| Q1 2013 | -1.3% | — | — | |
| Q4 2012 | -7.5% | — | — | |
| Q3 2012 | -0.8% | — | — | |
| Q2 2012 | -3.7% | — | — | |
| Q1 2012 | -2.4% | — | — | |
| Q4 2011 | -3.0% | — | — | |
| Q3 2011 | -2.1% | — | — | |
| Q2 2011 | +0.8% | — | — | |
| Q1 2011 | -0.5% | — | — | |
| Q4 2010 | +1.2% | — | — | |
| Q3 2010 | +0.4% | — | — | |
| Q2 2010 | -2.3% | — | — | |
| Q1 2009 | -1.7% | — | — | |
| Q1 2010 | +1.1% | — | — | |
| Q2 2009 | -0.6% | — | — | |
| Q4 2007 | -0.6% | — | — | |
| Q4 2009 | -0.6% | — | — | |
| Q3 2008 | +2.3% | — | — | |
| Q4 2008 | +2.3% | — | — | |
| Q3 2009 | +2.3% | — | — |
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