Air Products and Chemicals has provided its fiscal 2025 earnings guidance, which has fallen short of Wall Street's expectations. Although the industrial gases company reported fourth-quarter earnings that exceeded anticipations, revenue showcased an unexpected stagnation. The full-year adjusted earnings are anticipated to fall between $12.70 and $13 per share, while Capital IQ's consensus indicates an expectation of normalized EPS at $13.33 for the current fiscal year. For the first quarter, Air Products anticipates an adjusted EPS ranging from $2.75 to $2.85, contrasting with the current consensus estimate of $3.15. Chief Executive Seifi Ghasemi commented during an earnings conference call, "We are not forecasting any significant growth for this quarter due to our concerns about the economic activity in China.
It is possible that economic activity in China might improve with actions that the Chinese government might take in the future, but we have not included that in our forecast." Looking ahead, the company is projecting capital expenditures between $4.5 billion and $5.0 billion for fiscal 2025, a reduction compared to the $5.15 billion spent in the year ending September. For the three months ended September 30, Air Products witnessed a 13% year-over-year increase in adjusted earnings, rising to $3.56 a share, which surpassed the Street's projection of $3.48.
Conversely, sales totaled $3.19 billion, falling short of the consensus estimate of $3.23 billion, largely remaining flat year over year due to higher volume and pricing being counterbalanced by a decrease in energy cost pass-through. Furthermore, revenue in the Americas dipped by 3% from the previous year to $1.31 billion, while Europe experienced a 3% increase, reaching $730.9 million.
Sales in Asia surged by 7% to $861.2 million. Current price: 307.06, Change: +0.33, Percent Change: +0.11.