earnings
confidence high
sentiment positive
materiality 0.85
Air Products Q3 GAAP EPS $3.13 (+17%), adjusted EPS $3.20 (+7%); confirms FY guidance
Air Products & Chemicals, Inc.
2024-Q3 EPS reported
$8.43
revenue$8,913,100,000
- GAAP net income $709M, EPS $3.13 (+17%); adjusted EPS $3.20 (+7%); EBITDA $1.3B (+5%), margin 42.4% (+260bps).
- Signed 15-year green hydrogen deal with TotalEnergies: 70,000 tons/yr from 2030, avoiding ~700,000 tons CO2 yearly.
- Agreed to sell LNG process tech business to Honeywell for $1.81B cash; closing expected by year-end.
- Plans two new air separation units in GA & NC and $70M membrane expansion in MO.
- Confirmed FY2024 adj. EPS guidance $12.20-$12.50; Q4 guidance $3.33-$3.63; CapEx $5.0-$5.5B.