Air Products & Chemicals Inc · Q2 2022 earnings

Briefing

Air Products reported an increase in GAAP EPS and adjusted EPS, driven by higher volumes and pricing, despite global challenges.

Air Products reported a strong second quarter fiscal 2022, with GAAP EPS of $2.38, up 12 percent, and adjusted EPS of $2.38, up 14 percent. The company saw increased sales driven by higher volumes, pricing, and energy cost pass-through, partially offset by unfavorable currency impacts. The company maintains full-year adjusted EPS guidance of $10.20 to $10.40.

• GAAP EPS of $2.38, up 12 percent; GAAP net income of $537 million, up 13 percent.
• Adjusted EPS of $2.38, up 14 percent; adjusted EBITDA of $1,019 million, up nine percent.
• Announced $2 billion hydrogen, pipeline and Sustainable Aviation Fuel expansion project at World Energy's production and distribution hub in Paramount, California.
• Maintaining fiscal 2022 full-year adjusted EPS guidance of $10.20 to $10.40, up 13 to 15 percent over prior year adjusted EPS.

Headline financials

Revenue & EPS history

Air Products continues to expect full-year fiscal 2022 adjusted EPS guidance of $10.20 to $10.40, up 13 to 15 percent over prior year adjusted EPS. For the fiscal 2022 third quarter, Air Products' adjusted EPS guidance is $2.55 to $2.65, up 10 to 15 percent over fiscal 2021 third quarter adjusted EPS. Air Products expects capital expenditures of $4.5 to $5.0 billion for full-year fiscal 2022.