Air Products and Chemicals, Inc. (NYSE:APD) Q1 2015 Earnings Conference Call - Final Transcript

Jan 29, 2015 • 10:00 am ET


Air Products and Chemicals, Inc. (NYSE:APD) Q1 2015 Earnings Conference Call - Final Transcript


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Good morning and welcome to Air Products and Chemicals First Quarter Earnings Release Conference Call. [Operator Instructions] Also, this teleconference, presentation and the comments made on behalf of Air Products are subject to copyright by Air Products and all rights are reserved. Air Products will be recording this teleconference and may publish all or a portion of the teleconference. No other recording or redistribution of this telephone conference by any other party are permitted without the expressed or written permission of Air Products. Your participation indicates your agreement.

Beginning today's call is Mr. Simon Moore, Director of Investor Relations. Mr. Moore, you may now begin.

Simon R. Moore

Thank you, Jennifer. Good morning, everyone, and welcome to Air Products' First Quarter 2015 Earnings Results Teleconference. This is Simon Moore, Director of Investor Relations. I'm pleased to be joined today by Seifi Ghasemi, our Chairman, President and CEO; Scott Crocco, our CFO; and our Senior Business Leaders.

After our comments, we'll be pleased to take your questions. Please limit yourself to one question and a follow-up. We issued our earnings release this morning. It's available on our website along with the slides for this teleconference. Please go to to access the materials.

As a reminder, we are discussing our results today under our new segment reporting structure which was in place as of October 1, 2014. On January 5, we provided two years of historical results under this new segment structure that information is also available on our website.

Please turn to Slide 2. As always, today's teleconference will contain forward-looking statements based on current expectations and assumptions. Please review the information on this slide and at the end of today's earnings release, explaining factors that may affect these expectations.

Now, I'm pleased to turn the call over to Seifi.

Seifi Ghasemi

Thank you, Simon. And good morning to everyone. Thanks for taking time from your very busy schedule to be on our call today. We do appreciate your interest in our Company. Before we get into the details, let me introduce our team who will be on the call today. In addition to Simon, I have Mr. Scott Crocco, our Senior Vice President and Chief Financial Officer; Mr. Corning Painter, Air Products' Executive Vice President responsible for Industrial Gases and Mr. Guillermo Novo, Air Products' Executive Vice President in charge of Material Technologies. All of us will be participating in the call and in answering your questions.

I am pleased to report that thanks to the hard work and significant contributions of Air Products' more than 20,000 employees we delivered a strong performance in the first quarter of fiscal year 2015.

As you will note, we have materially improved our safety record and increased our earnings per share for the quarter by 16% versus last year. We increased our EBITDA margin by 240 basis points and we are on our way to once again become the safest and most profitable industrial gas company in the world, providing excellent service to our customers. We do appreciate