Air Products (APD) Reports Prelim Q1 Results

Air Products (NYSE: APD) today announced preliminary fiscal 2025 first quarter GAAP earnings per share^# ("EPS") of $2.77 and preliminary fiscal 2025 first quarter adjusted EPS* of $2.86. Preliminary adjusted EPS exceeds the top end of the Company's previous fiscal 2025 first quarter adjusted EPS guidance* of $2.75 to $2.85.

Full interim consolidated financial statements as of and for the quarter ended December 31, 2024 are not yet complete as of the date of this press release. The preliminary earnings per share information presented above is based upon information available as of the date of this press release and is subject to change upon completion of all quarter-end close processes, as well as the possible occurrence of interim events prior to the issuance of our full financial statements. Accordingly, undue reliance should not be placed on this preliminary unaudited financial information. Please also refer to the "Forward-Looking Statements" provided below.

The Company will release its full Q1FY25 financial results prior to market open on Thursday, February 6, 2025 and review these results in a teleconference at 8:00 a.m. ET. The teleconference will be open to the public and the media in listen-only mode by telephone and Internet broadcast.

Live teleconference: 773-305-6853
Passcode: 3870353
Internet broadcast/slides: Available on the Event Details page on Air Products' Investor Relations website.
Internet replay: Available on the Event Details page on Air Products' Investor Relations website.

#Preliminary earnings per share is calculated and presented on a diluted basis from continuing operations attributable to Air Products.

*Preliminary results in this release reference adjusted EPS, which is a non-GAAP financial measure. Additional information regarding this measure and a reconciliation of GAAP EPS to adjusted EPS is provided below. The Company previously provided fiscal 2025 first quarter adjusted EPS guidance in Exhibit 99.1 to its Current Report on Form 8-K dated November 7, 2024 (the "Prior Earnings Release"). Management is unable to reconcile, without unreasonable effort, the Company's forecasted range of adjusted EPS to a comparable GAAP range. Air Products provides adjusted EPS guidance on a continuing operations basis, excluding the impact of certain items that management believes are not representative of the Company's underlying business performance, such as the incurrence of costs for cost reduction actions and impairment charges, or the recognition of gains or losses on certain disclosed items. It is not possible, without unreasonable efforts, to predict the timing or occurrence of these events or the potential for other transactions that may impact future GAAP EPS. Furthermore, it is not possible to identify the potential significance of these events in advance, but any of these events, if they were to occur, could have a significant effect on the Company's future GAAP results.

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