Air products reports fiscal 2024 third quarter gaap eps of $3.13 and adjusted eps of $3.20

Q3 fy24 (comparisons versus prior year): gaap eps# of $3.13, up 17 percent; gaap net income of $709 million, up 16 percent; and gaap net income margin of 23.7 percent, up 360 basis points adjusted eps* of $3.20, up seven percent; adjusted ebitda* of $1.3 billion, up five percent; and adjusted ebitda margin* of 42.4 percent, up 260 basis points recent highlights clean hydrogen / energy transition signed a 15-year agreement to supply 70,000 tons of green hydrogen annually starting in 2030, helping to decarbonize totalenergies' northern european refineries and avoid approximately 700,000 tons of co₂ each year announced agreement to divest air products' liquefied natural gas (lng) process technology and equipment business to honeywell for $1.81 billion in an all-cash transaction; closing is expected before the end of the calendar year, subject to customary closing conditions, including receipt of certain regulatory approvals announced plans to build networks of permanent, commercial-scale, multi-modal hydrogen refueling stations from northern california to southern california, and along major transportation corridors near the trans-european transport network announced trial of a daimler mercedes-benz genh2 truck, aligned with air products' goal to convert its distribution fleet to hydrogen powered vehicles core industrial gas business announced plans to construct two new air separation units at the company's existing conyers, georgia, and reidsville, north carolina, locations to replace older units and serve further merchant market growth announced $70 million investment to expand gas separation and purification membranes at company's missouri manufacturing and logistics center, driven by growing product demand in biogas and hydrogen recovery applications, as well as customer needs for the use of nitrogen for the aerospace industry and cleaner fuels for the marine industry sustainability      awarded 'a' rating on msci's environmental, social and governance ratings guidance confirmed previous fiscal 2024 full-year adjusted eps guidance* of $12.20 to $12.50, up six to nine percent over prior year adjusted eps*; fiscal 2024 fourth quarter adjusted eps guidance* of $3.33 to $3.63 continue to expect fiscal year 2024 capital expenditures* in the range of $5.0 billion to $5.5 billion # earnings per share is calculated and presented on a diluted basis from continuing operations attributable to air products. *certain results in this release, including in the highlights above, include references to non-gaap financial measures on a consolidated, continuing operations basis and a segment basis.
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