Air Products (APD) shares drop as manufacturing slowdown and lower demand impact Q1

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Go back to Air Products (APD) shares drop as manufacturing slowdown and lower demand impact Q1

Air Products Reports Fiscal 2024 First Quarter GAAP EPS of $2.73 and Adjusted EPS of $2.82

February 5, 2024 6:00 AM EST

Q1 FY24 (comparisons versus prior year):

GAAP EPS# of $2.73, up six percent; GAAP net income of $622 million, up six percent; and GAAP net income margin of 20.7 percent, up 230 basis pointsAdjusted EPS* of $2.82, up seven percent; adjusted EBITDA* of $1.2 billion, up eight percent; and adjusted EBITDA margin* of 39.2 percent, up 510 basis points

Recent Highlights

Increased quarterly dividend to $1.77 per share in January, the 42nd consecutive year of increases

Guidance

Updated fiscal 2024... More