Exhibit 99.1

News Release
airproductslogo.jpg
 
 
Air Products and Chemicals, Inc.
7201 Hamilton Boulevard
Allentown, PA 18195-1501
www.airproducts.com





Air Products Reports Fiscal 2019 GAAP EPS** of $7.94, Up 20 Percent,
and Adjusted EPS* of $8.21, Up 10 Percent

Fiscal 2019 (comparisons versus prior year):
GAAP EPS** of $7.94, up 20 percent; GAAP net income of $1,809 million, up 18 percent; and GAAP net income margin of 20.3 percent, up 310 basis points
Adjusted EPS* of $8.21, up 10 percent; adjusted EBITDA margin* of 38.9 percent, up 400 basis points

Q4 FY19 (comparisons versus prior year):
GAAP EPS** of $2.27, up 11 percent; GAAP net income of $519 million, up 13 percent; and GAAP net income margin of 22.7 percent, up 270 basis points
Adjusted EPS* of $2.27, up 14 percent; adjusted EBITDA margin* of 41.9 percent, up 610 basis points

Fiscal 2019 Highlights
37th consecutive year of dividend increase
Continued to execute gasification strategy:
Confirmed final negotiations to form $11.5 billion joint venture to acquire the gasification/power/industrial gas assets at Jazan Economic City, Saudi Arabia
Closed on GE gasification technology acquisition
Announced new China gasification project with Debang
Continued to win and successfully execute base business projects around the world

Guidance
Fiscal 2020 full-year adjusted EPS guidance of $9.35 to $9.60 per share*, up 14 to 17 percent over prior year adjusted EPS*, including the expected contribution from the Jazan gas and power project; fiscal 2020 first quarter adjusted EPS guidance of $2.05 to $2.10 per share*, up 10 to 13 percent over fiscal 2019 first quarter adjusted EPS*
Expected fiscal year 2020 capital expenditures* of approximately $4 billion to $4.5 billion, including the expected spending for the Jazan gas and power project

*The identified results and guidance in this release, including in the highlights above, include references to non-GAAP financial measures. Additional information regarding these measures and a reconciliation of GAAP to non-GAAP historical results can be found below. In addition, as discussed below, it is not possible, without unreasonable efforts, to identify the timing or occurrence of events and transactions that could significantly impact future GAAP EPS or cash flow from investing activities if they were to occur.
**Earnings per share is from continuing operations and attributable to Air Products.

-more-

The following information was filed by Air Products Chemicals Inc (APD) on Thursday, November 7, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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