Air Products and Chemicals (APD) Q2 2023 Earnings Call Transcript

For the period ending March 31, 2023

May 9, 2023 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning, and welcome to Air Products' Second 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 - VP of IR and Corporate Treasurer

Thank you, Sharon. Good morning, everyone. Welcome to Air Products' second 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; and Sean Major, our Executive Vice President, General Counsel and Secretary. 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.

Today's discussion contains forward-looking statements, including those about earnings, capital expenditure guidance, business outlook and investment opportunities. Please refer to the cautionary note regarding forward-looking statements that is provided in our earnings release and on Slide number 2. Additionally, throughout today's discussion, we will refer to various financial measures, including earnings per share, operating income, operating margin, EBITDA, EBITDA margin, the effective tax rate and ROCE, both on a total company and segment basis. Unless we specifically state otherwise, statements regarding these measures are referring to our adjusted non-GAAP financial measures. Reconciliation of these measures to our most directly comparable GAAP financial measures can be found on our website in the relevant earnings release section.

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

Seifi Ghasemi - Chairman, President and CEO

Thank you, Sidd, and good day to everyone. Thank you for taking time from your very busy schedule to be on our call today. I am proud to say that our people delivered another set of outstanding results this quarter, continuing to grow our business in a challenging environment.

Our team also continued to make great progress in executing our growth strategy, which is focused on the production of low-carbon and zero carbon hydrogen. I would like to thank each one of our talented, dedicated and motivated employees at Air Products for their commitment and hard work.