“Despite the global economic environment and significant energy, environmental and geopolitical challenges facing our world, the Air Products team continues to deliver on our commitments and our higher purpose as a company.”
Those were the words of Seifi Ghasemi, Chairman, President and CEO of Air Products, as he reflected on the company’s second quarter (Q2) fiscal 2022 results, highlighting GAAP net income of $537m and GAAP EPS from continuing operations of $2.38.
Q2 also saw sales of $2.9bn increase 18% over the prior year on 8% higher volumes, 6% higher pricing and 6% higher energy cost pass-through, partially offset by 2% unfavourable currency.
For the quarter, on a non-GAAP basis, adjusted EPS from continuing operations of $2.38 increased 14% over the prior year, and adjusted EBITDA of $1bn was up 9% over the prior year as higher volumes, pricing and equity affiliates’ income more than offset higher costs.
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