- Adjusted EPS Beats Estimates: Air Products’ adjusted earnings per share (EPS) from continuing operations was $3.20, ahead of the estimated $3.03.
- Sales Below Expectations: Total sales stood at $2.99 billion, a 1.6% decline year-over-year (y/y), compared to an estimate of $3.02 billion.
- Industrial Gases Americas: Sales were $1.23 billion, down 2.1% y/y, below the estimate of $1.27 billion.
- Industrial Gases Asia: Reported sales of $789.6 million, -4% y/y, falling short of the $802.7 million estimate.
- Industrial Gases Europe: Sales were $693.4 million, down 1.9% y/y, under the $700.1 million estimate.
- Adjusted EBITDA Surpasses Expectations: The adjusted EBITDA was $1.3 billion, up 7.6% y/y, above the estimated $1.27 billion.
- Industrial Gases Americas EBITDA: $604.2 million, a 6.4% increase y/y, better than the $586 million estimate.
- Industrial Gases Asia EBITDA: $324.3 million, down 9.1% y/y, below the $344.7 million estimate.
- Industrial Gases Europe EBITDA: $283.2 million, up by 12% y/y, exceeding the $260.2 million estimate.
- Operating Income Performance:
- Americas: $391.1 million, a 4.3% increase y/y, compared to the $379.1 million estimate.
- Asia: $200.1 million, a 17% decrease y/y, missing the $221.9 million estimate.
- Europe: $204.7 million, up 16% y/y, higher than the $195.8 million estimate.
- Fiscal 2024 Adjusted EPS Guidance Confirmed: Full-year adjusted EPS guidance remains $12.20 to $12.50, up 6-9% over the prior year.
- Fourth Quarter Guidance: Adjusted EPS guidance for Q4 fiscal 2024 is between $3.33 and $3.63.
- Capital Expenditures Projection: Expected fiscal year 2024 capital expenditures range from $5.0 billion to $5.5 billion.
- CEO Comments: The Chairman, President, and CEO highlighted the strong performance in the Americas and Europe, driven by pricing and productivity actions.
- Analyst Recommendations: There are 12 buys, 12 holds, and 2 sells from analysts on Air Products’ stock.
A look at Air Products & Chemicals, Inc Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 3 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Air Products & Chemicals, Inc. holds a solid position in the market, with a strong outlook for the future according to the Smartkarma Smart Scores. The company scores well in growth and momentum, indicating a positive trajectory in both expanding its operations and market performance. Additionally, its value and dividend scores are commendable, reflecting a balanced approach to financial management. However, there is room for improvement in resilience, suggesting potential vulnerabilities that need addressing.
Air Products & Chemicals, Inc. is a leading producer of industrial gases and performance materials in the industry, catering to various sectors such as beverage, health, and semiconductors. With a focus on innovation and a diversified product portfolio, the company is well-positioned to capitalize on emerging trends and market demands. By leveraging its strengths in growth and momentum, Air Products & Chemicals, Inc. is poised for continued success and sustainable growth in the long run.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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