NYSE$APD
Air Products & Chemicals Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported GAAP EPS decreased by 17 percent and adjusted EPS increased by 17 percent.
Air Products reported second quarter fiscal 2023 results, including GAAP EPS from continuing operations of $1.97, down 17 percent from prior year. Adjusted EPS from continuing operations of $2.74 increased 17 percent over the prior year. Second quarter sales of $3.2 billion increased nine percent over the prior year.
- GAAP EPS of $1.97, down 17 percent; GAAP net income of $450 million, down 16 percent.
- Adjusted EPS of $2.74, up 17 percent; adjusted EBITDA of $1,151 million, up 13 percent.
- Higher pricing and volume drove improved results in all regional segments
- Increased fiscal 2023 full-year adjusted EPS guidance to $11.30 to $11.50, up 10 to 12 percent over prior year adjusted EPS.
Headline financials
Revenue & EPS history
Air Products · Revenue · Quarterly
$3.2B
Revenue by segment
Air Products · $2.19B total across 2 segments · Q2 2023
- Americas$1.37B—62.8%
- Asia$814M—37.2%
Forward guidance
Air Products expects full-year fiscal 2023 adjusted EPS guidance of $11.30 to $11.50, up 10 to 12 percent over prior year adjusted EPS. For the fiscal 2023 third quarter, Air Products' adjusted EPS guidance is $2.85 to $2.95, up 10 to 14 percent over fiscal 2022 third quarter adjusted EPS. Air Products continues to expect capital expenditures of $5.0 - $5.5 billion for full-year fiscal 2023.
Tailwinds
- Full-year fiscal 2023 adjusted EPS guidance of $11.30 to $11.50, up 10 to 12 percent over prior year adjusted EPS.
- Fiscal 2023 third quarter, adjusted EPS guidance is $2.85 to $2.95, up 10 to 14 percent over fiscal 2022 third quarter adjusted EPS.
- Capital expenditures of $5.0 - $5.5 billion for full-year fiscal 2023.
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 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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