Highest-materiality recent filing
Air Products reports Q3 GAAP loss of $6.47/sh on $2.9B charges; adj. EPS $3.47 beats guidance
GAAP operating loss $2.1B, EPS -$6.47, from ~$2.9B pre-tax charges for project exits (Louisiana Clean Energy, Casa Grande).
Air Products exits Louisiana clean energy complex, takes up to $2.9B pre-tax charge
Pre-tax charge up to $2.9B ($2.2B after-tax) in fiscal Q3 2026 for asset write-downs and contract terminations.
GAAP operating income $753M, GAAP EPS $3.19, each up >130% YoY (prior year had charges).
Air Products Q1 adjusted EPS $3.16 beats guidance; maintains FY guide, raises dividend
GAAP EPS $3.04 (+10% YoY); adjusted EPS $3.16 (+10%), above top-end of guidance.
Air Products shareholders elect all 10 directors, approve say-on-pay and auditor ratification
Quorum of 202,627,255 shares (91.03% of entitled) present at Jan 28, 2026 Annual Meeting.
Air Products director Lisa Davis will not stand for re-election at Jan 2026 annual meeting
Director Lisa A. Davis not standing for re-election at Jan 28, 2026 annual meeting; retire from board thereafter.
Air Products FY2025 GAAP loss $1.74/sh, adj EPS $12.03; FY2026 adj EPS guidance $12.85-$13.15
FY2025 GAAP loss per share $1.74 includes $3.7B pre-tax charges; prior-year GAAP EPS $17.24 included $1.6B LNG sale gain.
Air Products elects Howard Ungerleider to Board, effective Sept 1, 2025
Howard Ungerleider elected to Air Products Board effective September 1, 2025.
GAAP EPS $3.24 (+4% YoY); GAAP operating income $791M (+7%).
Air Products EVP, General Counsel Sean Major resigns effective July 11, 2025
Sean D. Major resigns as EVP, General Counsel and Secretary, effective July 11, 2025.
Air Products issues $1.1B USD notes and €500M Eurobonds; proceeds for general purposes, CP repayment
$600M 4.300% Senior Notes due 2028 and $500M 4.900% Senior Notes due 2032 issued.
Air Products Q2 GAAP loss $1.7B from $2.3B charges; cuts FY25 adj EPS to $11.85-$12.15
GAAP net loss $1.7B ($7.77 diluted loss per share); adjusted EPS $2.69, adjusted EBITDA $1.2B.
Air Products to exit three U.S. projects, expects pre-tax charge up to $3.1B
Pre-tax charge not to exceed $3.1B in fiscal Q2 2025 for exiting World Energy SAF expansion, Massena green H2, and Texas CO projects.
Air Products issues €1B in new notes to refinance commercial paper and upcoming maturity
€500M 2.95% notes due 2031 and €500M 3.45% notes due 2037 issued.
Air Products Q1 GAAP EPS $2.77, Adj. EPS $2.86; maintains FY2025 guidance
GAAP net income $650M (+5% YoY); GAAP net income margin 22.2% (+150 bps YoY).
Air Products board creates Vice Chairman role, appoints Dennis H. Reilley
Board approved amended and restated Bylaws on Jan 31, 2025, authorizing a Vice Chairman of the Board.
Air Products names Eduardo F. Menezes as CEO effective Feb 7, 2025; Ghasemi departs
Eduardo Menezes appointed CEO effective Feb 7, 2025; succeeds Seifi Ghasemi after 10+ years.
Air Products elects three Mantle Ridge nominees; CEO Ghasemi loses board seat
Mantle Ridge nominees Paul Hilal, Andrew Evans, Dennis Reilley elected; six management nominees also elected.
Air Products Q1 prelim adjusted EPS $2.86 tops $2.75-2.85 guidance; GAAP $2.77
GAAP EPS $2.77; adjusted EPS $2.86 for Q1 FY2025.
Mantle Ridge withdraws five director nominees at Air Products; slates four for 2025 meeting
Mantle Ridge withdrew nominations for David Khani, Thomas Linebarger, Nichelle Maynard-Elliott, Donald Wallette Jr., and J. Steven Whisler.
Air Products nominates two new independent directors; Ho and Paull to retire at 2025 annual meeting
David H.Y. Ho and Matthew H. Paull will retire and not stand for re-election at the 2025 Annual Meeting of Shareholders.
Air Products Q4 GAAP EPS $8.81 (+186% YoY), adj. EPS $3.56; FY2024 adj. EPS $12.43, up 8%
Q4 GAAP EPS $8.81, up 186%; adjusted EPS $3.56, up 13%; net income $2.0B, margin 61.2%.
Air Products completes $1.81B sale of LNG business to Honeywell
Sale of LNG process technology and equipment business to Honeywell for $1.81B in cash.
Air Products Q3 GAAP EPS $3.13 (+17%), adjusted EPS $3.20 (+7%); confirms FY guidance
GAAP net income $709M, EPS $3.13 (+17%); adjusted EPS $3.20 (+7%); EBITDA $1.3B (+5%), margin 42.4% (+260bps).
Air Products COO Samir Serhan resigns effective July 18; to stay until Sep 30
Dr. Samir J. Serhan resigned as COO effective July 18, 2024.
Air Products sells LNG process tech & equipment business to Honeywell for $1.81B cash
Honeywell acquires Air Products' LNG business for $1.81B cash, representing ~13x 2024 estimated EBITDA.
Air Products Q2 GAAP EPS $2.57 (+30%), adj EPS $2.85 (+4%); maintains FY guidance
GAAP EPS $2.57, +30% YoY; net income $581M, +29%; margin 19.8%, +570 bps.
Air Products enters new $3.5B revolving credit facilities, replaces prior $2.75B agreement
Five-year $3.0B revolving credit facility and 364-day $500M facility signed March 28, 2024.
Air Products issues $2.5B in notes to fund green hydrogen and renewable projects
Issued $750M 4.600% notes due 2029, $600M 4.750% notes due 2031, and $1.15B 4.850% notes due 2034.
Air Products Q1: GAAP EPS $2.73 (+6%), Adj EPS $2.82; dividend raised to $1.77
GAAP EPS $2.73, net income $622M (+6% YoY); GAAP margin 20.7% (up 230 bps).
Air Products shareholders elect all 9 director nominees at 2024 annual meeting
86.81% of shares represented at Jan 25, 2024 meeting; all 9 director nominees elected with 10.9M to 175.9M votes for.
Air Products elects Jessica T. Graziano to Board of Directors, effective Dec 1, 2023
Jessica T. Graziano, 50, elected as independent director effective December 1, 2023.
Air Products Q4 adj EPS $3.15 (+11% YoY); FY2024 guidance $12.80-$13.10
Q4 GAAP EPS $3.08, net income $694M (+17% YoY); adjusted EPS $3.15, adjusted EBITDA $1.3B (+10%).
Air Products VP and Principal Accounting Officer Kutz to retire; Pellicciotti named successor
Jeffrey J. Kutz, VP and Principal Accounting Officer, will retire effective December 18, 2023.
Air Products amends bylaws to allow 10% stockholders to call special meetings
Board approved amended and restated Bylaws effective Sept 17, 2023, superseding 2019 version.
Air Products Q3 GAAP EPS $2.67 (+2%), adjusted $2.98 (+16%); raises FY2023 guidance
GAAP net income $611M (+4% YoY); adjusted EBITDA $1.2B (+12%), margin 39.8% (+590 bps).
Air Products to hold annual say-on-pay votes after 98.77% shareholder approval
Approximately 98.77% of votes cast at the 2023 Annual Meeting favored annual advisory say-on-pay votes.
Air Products' $8.4B green hydrogen JV achieves financial close; 30-year off-take secured
Total project value $8.4B; $6.1B non-recourse financing from 23 banks and institutions.
Air Products extends CEO Seifi Ghasemi's employment term to September 2028
Employment agreement amended to extend term from September 30, 2025 to September 30, 2028.
Air Products Q2 adj. EPS $2.74 (+17% YoY); raises FY2023 adj. EPS guidance to $11.30-$11.50
GAAP EPS $1.97 (-17%), net income $450M (-16%); adjusted EPS $2.74 (+17%), adj. EBITDA $1,151M (+13%)
Air Products issues $600M 4.800% notes due 2033 and €700M 4.000% notes due 2035
Net proceeds of ~$594.9M from U.S. notes and ~€688.6M from Eurobonds.
Air Products Q1 adj. EPS $2.64 (+6%); dividend raised to $1.75; FY23 adj. EPS guide $11.20-$11.50
GAAP EPS $2.57 (+2% YoY); net income $584M (+6%); GAAP margin 18.4%, flat.
All 8 director nominees elected with >91% support for each; Tonit M. Calaway received 166.2M for, 11.3M against.
Air Products completes second Jazan JV asset purchase for $4.15B; contributed $908M
Air Products contributed ~$908M (incl. $73M from Air Products Qudra non-controlling partner) at second closing of $12B Jazan gasification JV.
Air Products Q4 adj EPS $2.89 (up 15% YoY); guides FY23 adj EPS $11.20-$11.50
Q4 GAAP EPS $2.56 (up 2% YoY); adjusted EPS $2.89 (up 15% YoY); GAAP net income $593M.
Air Products Q3 GAAP EPS $2.62, up 11%; maintains FY22 adjusted EPS guidance $10.20-$10.40
GAAP net income $587M (+10% YoY); adjusted EBITDA $1,081M (+11% YoY).
Air Products Q2 GAAP EPS $2.38, up 12%; adj EPS $2.38, up 14%; guidance maintained
GAAP EPS $2.38 (+12% YoY); net income $537M (+13%); GAAP margin 18.2% (-90bps).
Air Products' Principal Accounting Officer Flugel resigns; Kutz named successor
Russell A. Flugel, SVP & Principal Accounting Officer, resigns effective May 6, 2022.
Tonit Calaway elected to Air Products board effective March 1, 2022
Tonit Calaway is EVP, Chief Administrative Officer, General Counsel and Secretary of BorgWarner Inc. (NYSE: BWA).
Air Products Q1 GAAP EPS $2.52 (+19% YoY); raises dividend 8% to $1.62; reaffirms FY guidance
GAAP EPS $2.52, up 19% YoY; net income $550M, up 13%; adjusted EBITDA $1,003M, up 8%.
the Company announced that its board of directors named Wayne T. Smith as Chairman and Dennis H. Reilley as Vice Chairman.
Mr. Menezes will also join the Company’s board of directors and will serve on the board’s executive committee.
On February 4, 2025, Air Products and Chemicals, Inc. (the “Company”) announced that Eduardo F. Menezes will succeed Seifollah (“Seifi”) Ghasemi as the Company’s Chief Executive Officer effective February 7, 2025.
Eduardo F. Menezes will succeed Seifollah (“Seifi”) Ghasemi as the Company’s Chief Executive Officer effective February 7, 2025.
the Company announced that its board of directors named Wayne T. Smith as Chairman
On July 18, 2024, Dr. Samir J. Serhan resigned as the Chief Operating Officer of Air Products and Chemicals, Inc. (the “Company”), effective immediately.
On November 15, 2023 the board of directors (the “Board”) of Air Products and Chemicals, Inc. (the “Company”) elected Jessica T. Graziano as a director of the Company, effective December 1, 2023.
On October 3, 2023, Jeffrey J. Kutz, Vice President, Corporate Controller and Principal Accounting Officer of Air Products and Chemicals, Inc. (the “Company”) informed the Company of his decision to retire effective December 18, 2023.
William J. Pellicciotti will join the Company as Controller and Chief Accounting Officer on October 25, 2023 and will succeed Mr. Kutz as the Company’s principal accounting officer effective upon Mr. Kutz’s retirement.
Jeffrey Kutz will succeed Mr. Flugel as the Company’s Vice President, Corporate Controller and Principal Accounting Officer, effective upon the effective date of Mr. Flugel’s resignation.
On April 18, 2022, Russell A. Flugel, the Senior Vice President, Corporate Controller and Principal Accounting Officer of Air Products and Chemicals, Inc. (the “Company”), informed the Company that he was resigning, effective as of May 6, 2022, in order to pursue other opportunities.
On February 20, 2022 the board of directors (the “Board”) of Air Products and Chemicals, Inc. (the “Company”) elected Tonit M. Calaway as a director of the Company, effective March 1, 2022.
Max materiality 0.90 · Median 0.70 · Most common event earnings