Air Products and Chemicals, Inc. (NYSE:APD) Q1 2020 Earnings Conference Call - Final Transcript

Jan 24, 2020 • 10:00 am ET

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Air Products and Chemicals, Inc. (NYSE:APD) Q1 2020 Earnings Conference Call - Final Transcript

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Presentation
Executive
Simon Moore

over to Seifi for a discussion of our outlook.

Executive
Seifi Ghasemi

Thank you again, Simon. Now please turn to Slide number 20. As you all know and it's pretty obvious, we continue to live in an uncertain world that we at Air Products cannot control, but we do have control over the actions Air Products can take to succeed in a dynamic and changing world. We have a strong, capable and flexible organization that remains focused on productivity and creating our own growth opportunities, which will allow us to continue to deliver on our promise to investors.

Despite this uncertainty, there is no change in our fiscal year 2020 EPS guidance of $9.35 to $9.60, which is up 14% to 17% over our strong fiscal year 2019 performance. As we continue to expect our fiscal and we continue to expect our fiscal year 2020, capex to be in the range of $4 billion to $4.5 billion. For second quarter of fiscal year 2020, our earning per share guidance is $2.10 to $2.20, which at midpoint is up 12% versus last year.

Now please turn to Slide number 21, at midpoint, our fiscal year 2020 guidance represents six consecutive years of double-digit earning growth and 14% average earning per share growth over this time. Thanks to the great team at Air Products, we continue to deliver on our commitments. Our team around the world continues to be very optimistic about the future of Air Products. Our five point strategic plan will differentiate us and drive our success going forward.

Our safety, productivity and operating performance provide the foundation for our continued growth. We have the financial capacity, the technical position and the talent to take a full advantage of our exciting opportunities, and I'd like to stress that we see -- we do see a lot of exciting opportunities ahead of us.

And finally, please turn to Slide number 22. As always, our real competitive advantage is the commitment and motivation of the great team we have at Air Products. This is what allows us to continue to generate our strong performance. I want to thank all of our 17,000 people around the world for their commitment and hard work and for embracing the opportunities in front of us with energy and a spirit of working together. I, certainly, am proud to be part of this winning team.

With that, now we are delighted to answer any questions that you might have.