Air Products and Chemicals, Inc. (APD) Q1 2023 Earnings Call Transcript

Air Products and Chemicals, Inc. (NYSE:APD) Q1 2023 Earnings Conference Call February 2, 2023 8:30 AM ET

Company Participants

Seifi Ghasemi - Chairman, President and CEO

Dr. Samir Serhan - Chief Operating Officer

Melissa Schaeffer - SVP and CFO

Sean Major - EVP, General Counsel and Secretary

Sidd Manjeshwar - VP of Investor Relations and Corporate Treasurer

Conference Call Participants

Christopher Parkinson - Mizuho

John McNulty - BMO Capital Markets

John Roberts - Credit Suisse

Steve Byrne - Bank of America

Mike Leithead - Barclays

Steven Haynes - Morgan Stanley

Laurent Favre - BNP Paribas

Laurence Alexander - Jefferies

Operator

Good morning, and welcome to Air Products' First Quarter Earnings Release Conference Call. Today’s call is being recorded at the request of Air Products. Please note that this presentation and the comments made on behalf of Air Products are subject to copyright by Air Products and all rights are reserved.

Beginning today’s call is Mr. Sidd Manjeshwar. Please go ahead.

Sidd Manjeshwar

Thank you, Katie. Good morning, everyone. Welcome to Air Products’ first quarter 2023 earnings results teleconference. This is Sidd Manjeshwar, Vice President of Investor Relations and Corporate Treasurer. I am pleased to be joined today by Seifi Ghasemi, our Chairman, President and CEO; Dr. Samir Serhan, our Chief Operating Officer; Melissa Schaeffer, our Senior Vice President and Chief Financial Officer; Sean Major, our Executive Vice President, General Counsel and Secretary; and Simon Moore, our Vice President of Investor Relations, Corporate Relations and Sustainability. As previously announced, he will be retiring at the end of March. After our comments, we will be pleased to take your questions. Our earnings release and the slides for this call are available on our Website at airproducts.com.

This discussion contains forward-looking statements. Please refer to the forward-looking statement disclosure that can be found in our earnings release and on Slide #2. In addition, throughout today’s discussion, we will refer to various financial measures. Unless we specifically state otherwise, when we refer to earnings per share, operating income, operating margin, EBITDA, EBITDA margin, the effective tax rate and ROCE both on a total company and segment basis, we are referring to our adjusted non-GAAP financial measures, adjusted earnings per share, adjusted operating income, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted effective tax rate and adjusted return on capital employed. Reconciliations of these measures to our most directly comparable GAAP financial measures can be found on our Website in the relevant earnings release section.