Air Products (NYSE: APD) reported Q4 EPS of $2.19, $0.02 worse than the analyst estimate of $2.21. Revenue for the quarter came in at $2.32 billion versus the consensus estimate of $2.27 billion.

Q4 FY20 (comparisons versus prior year):

• GAAP EPS of $2.19, down four percent, including an estimated $0.15-$0.20 negative impact from COVID-19; GAAP net income of $495 million, down five percent; and GAAP net income margin of 21.3 percent, down 140 basis points
• Adjusted EPS* of $2.19, down four percent, including an estimated $0.15-$0.20 negative impact from COVID-19; adjusted EBITDA margin* of 40.4 percent, down 150 basis points

Fiscal 2020 (comparisons versus prior year):

• GAAP EPS of $8.55, up eight percent, including an estimated $0.60-$0.65 negative impact from COVID-19; GAAP net income of $1,931 million, up seven percent; and GAAP net income margin of 21.8 percent, up 150 basis points
• Adjusted EPS* of $8.38, up two percent, including an estimated $0.60-$0.65 negative impact from COVID-19; adjusted EBITDA margin* of 40.9 percent, up 200 basis points

Fiscal 2020 Highlights

• Demonstrated strength, character and compassion during COVID-19: supported the talented, dedicated Air Products workforce; kept global plants running and supplied critical products; won significant new growth projects worldwide; supported local communities
• Announced $7 billion NEOM project, which will enable Air Products to supply carbon-free hydrogen to power buses and trucks around the world by 2025 and eliminate three million tons per year ("TPY") of carbon dioxide ("CO₂") emissions and eliminate smog-forming emissions and other pollutants from the equivalent of over 700,000 cars
• Signed long-term on-site contract for world-scale coal-to-methanol production facility in Indonesia, supporting energy independence and enabling the production of nearly two million TPY of methanol
• Announced additional large-scale projects and acquisitions: largest-ever U.S. investment in Gulf Coast Ammonia project (Texas City, Texas); completed acquisition of five operating U.S. hydrogen plants from and supplied hydrogen to PBF Energy (California and Delaware); brought steam methane reformer and cold box onstream (Geismar, Louisiana) supplying products to the Gulf Coast pipeline network; began construction of three nitrogen plants to condition imported natural gas for Gasunie national energy project (Groningen, Netherlands); won on-site supply contracts with next-generation electronics manufacturers in China and Malaysia
• Selected to supply world-leading LNG process technology and equipment for Mozambique's first onshore LNG project; Qatargas' massive LNG production expansion project in Ras Laffan, State of Qatar; and Sonatrach's GL1Z LNG facility in Arzew, Algeria
• Executed successful debt offering of about US$5 billion (US$3.8 billion and €1.0 billion), supporting significant opportunities to invest in high-return industrial gas projects
• Raised dividend more than 15 percent to $1.34 per share per quarter, the largest per share dividend increase in the company's history
• Set new sustainability goals aligned with Air Products' business strategy and higher purpose to reduce CO2 emissions intensity (kg CO2/MM BTU) by one-third by the year 2030 from a 2015 baseline; achieve at least 28 percent female representation in the professional and managerial population globally, and at least 20 percent minority representation in that same population in the United States by 2025 from a 2020 baseline

Commenting on the results, Air Products' Chairman, President and Chief Executive Officer Seifi Ghasemi said, "Despite the challenging COVID-19 environment, the Air Products team around the world demonstrated its commitment by keeping our plants running, supplying customers with essential products, and improving our profitability. Meanwhile, our existing on-site business—which represents more than half of our sales—continued to deliver stable cash flow. I would like to thank all of our more than 19,000 employees for their unwavering commitment to keep Air Products operating successfully during these difficult times, which we expect to continue during 2021. We were proud to announce landmark gasification and hydrogen for mobility megaprojects to meet the world's increasing energy needs and move us all towards a better future. With our continued focus on creating shareholder value, we also increased our dividend for the 38th consecutive year, representing the largest per-share dividend increase in Air Products' 80-year history."

For earnings history and earnings-related data on Air Products (APD) click here.