Air Products and Chemicals, Inc. (APD) Q4 2022 Earnings Call Transcript

Air Products and Chemicals, Inc. (NYSE:APD) Q4 2022 Earnings Conference Call November 3, 2022 8:30 AM ET

Company Participants

Simon Moore - Vice President, Investor Relations, Corporate Relations and Sustainability

Seifi Ghasemi - Chairman, President and CEO

Dr. Samir Serhan - Chief Operating Officer

Melissa Schaeffer - Senior Vice President and CFO

Sean Major - Executive Vice President, General Counsel and Secretary

Sidd Manjeshwar - Vice President and Corporate Treasurer

Conference Call Participants

Steve Byrne - Bank of America

Jeff Zekauskas - JPMorgan

John Roberts - Credit Suisse

Josh Spector - UBS

John McNulty - BMO Capital Markets

Vincent Andrews - Morgan Stanley

Mike Leithead - Barclays

Mike Harrison - Seaport Research Partners

Duffy Fischer - Goldman Sachs

Christopher Parkinson - Mizuho

Cory Murphy - Vertical Research Partners

Dan Rizzo - Jefferies

Eric Petrie - Citi

Sebastian Bray - Berenberg

Operator

Good morning. And welcome to the Air Products’ Fourth 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. Simon Moore.

Simon Moore

Thank you, Simon. Good morning, everyone. Welcome to Air Products’ fourth quarter 2022 earnings results teleconference. This is Simon Moore, Vice President of Investor Relations, Corporate Relations and Sustainability. 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 Sidd Manjeshwar, our Vice President and Corporate Treasurer. 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 number two. 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, 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 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.