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Air Products reports Q1 adjusted EPS $2.86, consensus $2.85

Air Products reports Q1 adjusted EPS $2.86, consensus $2.85

Reports Q1 revenue $2.93B, consensus $2.94B. The company said, “For the quarter, on a non-GAAP basis, adjusted EPS of $2.86 increased one percent from the prior year. Adjusted EBITDA of $1.2 billion was up one percent as higher pricing, net of power and fuel costs, was partially offset by higher costs and lower equity affiliates’ income. Adjusted EBITDA margin of 40.6 percent increased 140 basis points primarily due to favorable business mix and higher pricing. First quarter sales of $2.9 billion were down two percent from the prior year as two percent lower volumes and one percent unfavorable currency were partially offset by one percent higher pricing. The lower volumes were driven by the divestiture of the LNG business in September 2024 as well as a lower contribution from on-sites and merchant in Europe, which were partially offset by a significant, non-recurring sale of helium to an existing merchant customer in the Americas. The impact attributable to the LNG divestiture was approximately 2%.”

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