NYSE$APD
Air Products & Chemicals Inc · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
Air Products reported mixed results for Q2 2020, with GAAP EPS up 16% and adjusted EPS up 6%, despite an estimated negative impact from COVID-19.
Air Products reported a 16% increase in GAAP EPS to $2.21 and a 6% increase in adjusted EPS to $2.04 for Q2 2020. The company's sales increased by 1% to $2.2 billion. The results reflect the company's resilience during the COVID-19 pandemic, with stable onsite business and a secure financial position.
- Maintained plant operations and business continuity during the COVID-19 pandemic.
- Asia merchant volumes were impacted by COVID-19 but have since recovered.
- Secured financial position with $2.2 billion cash on hand and modest net debt of $1.1 billion.
- Signed agreement to provide LNG technology to the first onshore LNG project in Mozambique.
Headline financials
Revenue & EPS history
Air Products · Revenue · Quarterly
$2.22B
Revenue by segment
Air Products · $2.14B total across 4 segments · Q2 2020
- Americas$932M—43.6%
- Asia$658M—30.8%
- Europe$493M—23.1%
- Corporate and other$53.8M—2.5%
Forward guidance
Air Products withdrew its FY20 EPS and capital expenditure guidance due to the significant uncertainty related to the COVID-19 pandemic. The company expects declines in Americas and EMEA merchant volumes to continue and be more significant in its fiscal third quarter.
Tailwinds
- Strong financial position
- Robust business model
- Strategy to create long-term shareholder value through capital deployment
- Successful execution of projects in backlog
- Dividend growth remains a top priority
Headwinds
- Significant economic uncertainty remains
- Declines in Americas and EMEA merchant volumes expected to continue
- More significant impact expected in fiscal third quarter
- Uncertainty regarding the duration of the crisis
- Pace of recovery and the negative impact on the global economy
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 Q2 2020
-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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