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 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.
GAAP EPS $3.24 (+4% YoY); GAAP operating income $791M (+7%).
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 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 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 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 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 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 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' $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 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.
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 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