Air Products Q1 GAAP EPS $2.52 (+19% YoY); raises dividend 8% to $1.62; reaffirms FY guidance

Air Products & Chemicals, Inc.

2022-Q1 EPS reported $2.52 revenue$2,994,200,000

GAAP EPS $2.52, up 19% YoY; net income $550M, up 13%; adjusted EBITDA $1,003M, up 8%.
Quarterly dividend increased 8% to $1.62/share (40th consecutive annual increase); expects >$1.4B returned to shareholders in FY2022.
Closed Phase I of ~$12B JV with Aramco/ACWA Power in Saudi Arabia; awarded >2 GW electrolysis contract for NEOM hydrogen project.
Maintains FY2022 adjusted EPS guidance $10.20-$10.40 (+13-15% YoY); Q2 guidance $2.30-$2.40 (+11-15% YoY).
Expects FY2022 capital expenditures of $4.5 to $5.0 billion.

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