LEHIGH VALLEY, Pa.,
March 31, 2015 /PRNewswire/
-- At Air Products' (NYSE: APD) Investor Conference
today, senior leaders will share how their teams around the
world are executing against the company's five-point plan to create
value for shareholders.
The presentations will be audio webcast from Air Products'
Investor Relations website beginning at 10:00 a.m. ET and conclude at 4:00 p.m. ET.
"These presentations are a great opportunity to hear how the
people of Air Products are taking ownership and moving our company
forward," said Seifi Ghasemi, chairman, president and chief
executive officer.
Last September, Ghasemi unveiled his five-point plan as the path
for Air Products to reclaim its leadership position and create
shareholder value:
- Focus on the core: Air Products considers industrial
gases to be its core business and is following the key principles
of an integrated gas model.
- Restructure the organization: Air Products has
restructured with the drive for an agile, decentralized, empowered,
entrepreneurial and geographically focused organization.
- Change the culture: Air Products is building a culture
based on safety, simplicity, speed and self-confidence.
- Control capital/costs: Air Products is committed to
controlling costs at every level and to the responsible use of
capital, with capital allocation being the most important role of
the CEO.
- Align rewards: The annual bonus is based on EBITDA
performance against specific targets for the company's
decentralized business units.
Reaffirming Fiscal Second Quarter and Full-year
Guidance*
Air Products reaffirms its previous guidance for
its fiscal 2015 second quarter non-GAAP earnings per share (EPS)
from continuing operations of between $1.50
and $1.55 per share, representing a 14% to 17% increase over
the prior year, and non-GAAP EPS guidance for continuing operations
for fiscal 2015 of $6.35 to
$6.55 per share, a 10% to 13%
increase over fiscal 2014.
*The guidance and prior year comparisons in this release, unless
otherwise indicated, are based on non-GAAP continuing operations. A
reconciliation of GAAP to non-GAAP results can be found at the end
of this release.
Fiscal Second Quarter Earnings Teleconference
Information
The company will release its fiscal 2015 second
quarter financial results on Thursday, April
30, 2015 before the stock market opens and will review these
results later that day in a teleconference at 10:00 a.m. ET. The teleconference will be open to
the public and the media in listen-only mode by telephone and
Internet broadcast.
Live teleconference: 877-719-9801 (domestic) or
719-325-4818 (international)
Passcode: 5572123
Internet broadcast/slides: Available on the Event Details
page on Air Products' Investor Relations website.
Telephone replay: 888-203-1112 (domestic) or 719-457-0820
(international)
Passcode: 5572123
This will be available from 2:00 p.m.
ET on April 30 through May 8
at 2:00 p.m. ET.
Internet replay: Available on the Event Details page on Air
Products' Investor Relations website.
About Air Products
Air Products (NYSE: APD) is a leading industrial gases company. For
nearly 75 years, the company has provided atmospheric, process and
specialty gases, and related equipment to manufacturing markets
including metals, food and beverage, refining and petrochemical,
and natural gas liquefaction. Air Products' materials technologies
segment serves the semiconductor, polyurethanes, cleaning and
coatings, and adhesives industries. Over 20,000 employees in 50
countries are working to make Air Products the world's safest and
best performing industrial gases company, providing sustainable
offerings and excellent service to all customers. In fiscal 2014,
Air Products had sales of $10.4
billion and was ranked number 276 on the Fortune 500 annual
list of public companies. For more information, visit
www.airproducts.com.
NOTE: This release contains "forward-looking statements"
within the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, including statements about earnings
guidance and business outlook. These forward-looking statements are
based on management's reasonable expectations and assumptions as of
the date of this release. Actual performance and financial results
may differ materially from projections and estimates expressed in
the forward-looking statements because of many factors not
anticipated by management, including, without limitation, weakening
or reversal of global or regional economic recovery; significant
fluctuations in interest rates and foreign currencies from that
currently anticipated; future financial and operating performance
of major customers; unanticipated contract terminations or customer
cancellations or postponement of projects and sales; the impact of
competitive products and pricing; unexpected changes in raw
material supply and markets; the impact of price fluctuations in
natural gas and disruptions in markets and the economy due to oil
price volatility; unanticipated asset impairments or losses; the
ability to recover increased energy and raw material costs from
customers; costs and outcomes of litigation or regulatory
investigations; the impact of management and organizational
changes, including pension settlement and other associated costs;
the success of productivity programs; the timing, impact, and other
uncertainties of future acquisitions or divestitures; political
risks, including the risks of unanticipated government actions that
may result in project delays, cancellations or expropriations; the
impact of changes in environmental, tax or other legislation and
regulatory activities in jurisdictions in which the Company and its
affiliates operate; the impact on the effective tax rate of changes
in the mix of earnings among our U.S. and international operations;
and other risk factors described in the Company's Form 10-K for its
fiscal year ended September 30, 2014.
The Company disclaims any obligation or undertaking to disseminate
any updates or revisions to any forward-looking statements
contained in this release to reflect any change in the Company's
assumptions, beliefs or expectations or any change in events,
conditions, or circumstances upon which any such forward-looking
statements are based.
RECONCILIATION OF
NON-GAAP FINANCIAL MEASURES
|
|
|
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|
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|
|
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Consolidated
Results
|
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Diluted
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EPS
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|
|
|
|
Q2 2014
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|
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FY 2014
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|
|
2014 GAAP
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$
|
1.32
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$
|
4.59
|
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Business
restructuring and cost reduction actions
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-
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.04
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Pension settlement
loss
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-
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|
.02
|
|
|
Goodwill and
intangible asset impairment charge
|
|
-
|
|
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1.27
|
|
|
Chilean tax rate
change
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-
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.10
|
|
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Tax election
benefit
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-
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|
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(.24)
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2014 Non-GAAP
Measure
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$
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1.32
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$
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5.78
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Outlook
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Diluted
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EPS
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Q2
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|
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FY
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|
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2014
Non-GAAP
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$
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1.32
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|
$
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5.78
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|
|
2015 Non-GAAP
Outlook
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|
1.50–1.55
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|
|
6.35–6.55
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|
Change
Non-GAAP
|
$
|
.18–.23
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|
$
|
.57–.77
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|
|
% Change
Non-GAAP
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|
14%–17%
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10%–13%
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To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/air-products-investor-conference-to-showcase-five-point-plan-in-action-company-reaffirms-eps-guidance-300058149.html
SOURCE Air Products