Air Products and Chemicals provided its fiscal 2025 earnings guidance, falling short of Wall Street's estimates. Despite the industrial gases company's fourth-quarter earnings exceeding expectations, revenue remained unexpectedly flat. Full-year adjusted earnings are projected to range between $12.70 and $13 per share, while the consensus from Capital IQ anticipates normalized EPS of $13.33 for the current fiscal year. For the upcoming first quarter, the company expects adjusted EPS to be between $2.75 and $2.85, contrasting with the current consensus of $3.15.
Chief Executive Seifi Ghasemi commented on the earnings conference call, stating, "We are not forecasting any significant growth for this quarter due to our concerns about the economic activity in China." He added that improvements in Chinese economic activity are plausible depending on future actions taken by the Chinese government, yet this was not factored into their forecast. Air Products anticipates capital expenditures ranging from $4.5 billion to $5.0 billion for fiscal 2025, down from $5.15 billion in the previous year ending in September. For the three months ending on September 30, Air Products reported adjusted earnings surged 13% year-on-year, reaching $3.56 per share, exceeding analysts' estimates of $3.48.
However, sales amounted to $3.19 billion, falling short of the consensus estimate of $3.23 billion, with the metric remaining largely flat year over year as increased volume and pricing were neutralized by lower energy cost pass-through. Notably, revenue in the Americas declined by 3% year-over-year, totaling $1.31 billion, while European sales increased by 3% to $730.9 million.
Sales in Asia experienced a notable rise of 7% to $861.2 million. Price: 307.06, Change: +0.33, Percent Change: +0.11.