The earnings call reflected a mixed performance with strong earnings per share exceeding expectations and improved margins. However, challenges were noted in several areas including volume declines due to divestments, market challenges in helium, and regional weaknesses in Europe, the Middle-East, and India.

Company Guidance

During the Air Products First Quarter Earnings Release Conference Call for Fiscal Year 2025, several key metrics and forward-looking statements were discussed. Adjusted earnings per share (EPS) for the first quarter reached $2.86, surpassing the guidance range of $2.75 to $2.85 despite the divestment of the LNG process technology and equipment business, which had contributed $0.08 to the previous year's first-quarter earnings. The adjusted EBITDA margin improved by 140 basis points and the adjusted operating margin increased by 80 basis points. For the second quarter, Air Products anticipates an adjusted EPS range of $2.75 to $2.85, reflecting a 1% to 4% increase, while maintaining their full-year guidance amid challenges such as the strengthening U.S. dollar, tariffs, and global helium market dynamics. Additionally, the call highlighted the 5% decrease in overall volume due to the LNG business divestment, with Americas showing volume improvement but offset by European weaknesses. The company also discussed the impact of a significant non-recurring helium sale and projected improvements in the second half due to pricing actions, productivity initiatives, and the return to full operation of the Uzbekistan facility.

Exceeded Earnings Guidance

First-quarter adjusted earnings per share of $2.86 exceeded the upper-end of the guidance range of $2.75 to $2.85, up 1% over last year, driven by results in the Americas.

Improved Margins

Adjusted EBITDA margin was up 140 basis points and adjusted operating margin increased 80 basis points versus the prior year.

Strong Performance in Americas

Americas overall pricing was 2% higher, with a 3% volume improvement mainly due to a significant non-recurring sale of helium.

Asia Segment Growth

Asia segment saw a 2% volume improvement driven by contributions from new assets, with adjusted EBITDA increasing 7%.

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Air Products and Chemicals (APD) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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APD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 24, 2025	2025 (Q2)	2.84 / -	2.85	―	―	―
Feb 06, 2025	2025 (Q1)	2.86 / 2.86	2.82	1.42% (+0.04)
Nov 07, 2024	2024 (Q4)	3.48 / 3.56	3.15	13.02% (+0.41)
Aug 01, 2024	2024 (Q3)	3.03 / 3.20	2.98	7.38% (+0.22)
Apr 30, 2024	2024 (Q2)	2.70 / 2.85	2.74	4.01% (+0.11)
Feb 05, 2024	2024 (Q1)	2.98 / 2.82	2.64	6.82% (+0.18)
Nov 07, 2023	2023 (Q4)	3.11 / 3.15	2.89	9.00% (+0.26)
Aug 03, 2023	2023 (Q3)	2.92 / 2.98	2.62	13.74% (+0.36)
May 09, 2023	2023 (Q2)	2.65 / 2.74	2.38	15.13% (+0.36)
Feb 02, 2023	2023 (Q1)	2.70 / 2.64	2.52	4.76% (+0.12)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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APD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 06, 2025	$333.15	$328.13	-1.51%
Nov 07, 2024	$304.86	$310.91	+1.98%
Aug 01, 2024	$260.68	$284.02	+8.95%
Apr 30, 2024	$233.65	$231.90	-0.75%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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