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Air Products & Chemicals Inc (NYSE:APD) reported third-quarter 2024 adjusted EPS of $3.20, up 7% year-over-year, beating the consensus of $3.03.
Sales declined 2% YoY to $2.986 billion, missing the consensus of $3.035 billion due to 2% unfavorable currency and 1% lower energy cost pass-through.
Sales by segments: Americas $1.235 billion (-2% Y/Y), Europe $693 million (-2% Y/Y), and Asia $790 million (-4% Y/Y).
Operating profit rose 14.5% Y/Y to $737.6 million, and margin expanded by 347 bps to 24.7%
Adjusted EBITDA rose 5% Y/Y to $1.3 billion, with margins expanding 260 basis points to 42.4%.
Air Products' operating cash flow for the nine months ended June 30 totaled $2.689 billion, up from $2.203 billion in 2023.
Also Read: Honeywell’s $1.81B Power Play: Acquires Air Products’ LNG Tech to Lead Energy Transition
Q4 Guidance: Air Products sees Adjusted EPS Of $3.33 to $3.63 versus consensus Of $3.53.
2024 Guidance: Air Products reaffirmed its Adjusted EPS outlook of $12.20-$12.50 versus the consensus of $12.23 and capital expenditures outlook of $5.0 billion-$5.5 billion.
Price Action: APD shares are trading higher by 6.88% at $282.00 premarket at the last check Thursday.
Posted In: APD
