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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jeff Zekauskas | JPMorgan | 16 questions · 13% challenging |
| Patrick Cunningham | Citigroup | 13 questions · 15% challenging |
| Duffy Fischer | Goldman Sachs | 13 questions · 0% challenging |
| Kevin McCarthy | Vertical Research Partners | 12 questions · 0% challenging |
| Dave Begleiter | Deutsche Bank | 12 questions · 25% challenging |
| Josh Spector | UBS | 11 questions · 18% challenging |
| Chris Parkinson | Wolfe Research | 11 questions · 18% challenging |
| John McNulty | BMO Capital Markets | 11 questions · 27% challenging |
| John Roberts | Mizuho Securities | 10 questions · 0% challenging |
| James Hooper | Bernstein | 7 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| JPMorgan | 1 analyst | 16 questions · 13% challenging |
| Citigroup | 1 analyst | 13 questions · 15% challenging |
| Goldman Sachs | 1 analyst | 13 questions · 0% challenging |
| Deutsche Bank | 1 analyst | 12 questions · 25% challenging |
| Vertical Research Partners | 1 analyst | 12 questions · 0% challenging |
| UBS | 1 analyst | 11 questions · 18% challenging |
| BMO Capital Markets | 1 analyst | 11 questions · 27% challenging |
| Wolfe Research | 1 analyst | 11 questions · 18% challenging |
Air Products posted Q1 adjusted EPS of $2.86 above guidance despite a 2% volume decline driven primarily by the LNG business exit, as a new CEO Eduardo Menezes was appointed to lead the next phase of the company's transformation. Americas pricing strength from the merchant business provided a partial offset to the volume headwinds. The transition in leadership signaled a potential strategic reassessment of the clean energy investment portfolio.
Capex Investment | Capital Allocation | Margin | Demand | Pricing | Cost Pressure | Supply Chain | Competitive Dynamics | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 9 | 5 | 3 | 3 | 2 | 2 | 1 | 5 |
| 2025Q1 | 3 | 2 | 3 | 3 | 3 | 2 | 2 | |
| 2025Q2 | 10 | 5 | 5 | 1 | 3 | 4 | 1 | 1 |
| 2025Q3 | 5 | 2 | 2 | 3 | 2 | 1 | 2 | 1 |
| 2025Q4 | 11 | 3 | 5 | 4 | 3 | 3 | 2 | 3 |
| 2026Q1 | 10 | 4 | 6 | 6 | 4 | 3 | 2 | 2 |
| 2026Q2 | 5 | 7 | 4 | 5 | 4 | 2 | 5 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Capex Investment | 9 | 3 | 10 | 5 | 11 | 10 | 5 |
| Capital Allocation | 5 | 2 | 5 | 2 | 3 | 4 | 7 |
| Margin | 3 | 3 | 5 | 2 | 5 | 6 | 4 |
| Demand | 3 | 3 | 1 | 3 | 4 | 6 | 5 |
| Pricing | 2 | 3 | 3 | 2 | 3 | 4 | 4 |
| Cost Pressure | 2 | 2 | 4 | 1 | 3 | 3 | 2 |
| Supply Chain | 1 | 2 | 1 | 2 | 2 | 2 | 5 |
| Competitive Dynamics | 5 | 1 | 1 | 3 | 2 | 2 |
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $3.19B | -0.1% | $8.75 | +181.4% | 34.0% | 76.1% | 61.2% | $-1.12B |
| FY2025 Q1Selected | $2.93B | -2.2% | $2.77 | +1.5% | 31.2% | 22.0% | 21.1% | $-1.31B |
| FY2025 Q2 | $2.92B | -0.5% | $-7.77 | -402.3% | 29.6% | -79.8% | -59.3% | $-1.56B |
| FY2025 Q3 | $3.02B | +1.3% | $3.20 | +2.2% | 32.5% | 26.2% | 23.6% | $-640M |
| FY2025 Q4 | $3.17B | -0.6% | $0.02 | -99.7% | 32.3% | 0.5% | 0.2% | $-257M |
| FY2026 Q1 | $3.10B | +5.8% | $3.04 | +9.7% | 32.1% | 23.7% | 21.9% | $-351M |
| FY2026 Q2 | $3.17B | +8.8% | $3.19 | +141.1% | 31.1% | 23.7% | 22.4% | $2.35B |
| FY2026 Q3 | $3.16B | +4.6% | $-6.46 | -301.9% | 32.8% | -66.3% | -45.6% | $310M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
No 8-K events recorded for this window.
Calendar quarter Q4 2024Earnings call Feb 6, 2025
FY2025 Q1 in brief
Air Products posted Q1 adjusted EPS of $2.86 above guidance despite a 2% volume decline driven primarily by the LNG business exit, as a new CEO Eduardo Menezes was appointed to lead the next phase of the company's transformation.
Newest quarter FY2026 Q3 is part of Pro · see what Pro adds →
GAAP revenue YoY -2.19% → base 4. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
Sources. Tellvest earnings-call sentiment score for Air Products (APD), FY2025 Q1: 4/10. Scores: Air Products’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: APD daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
APD Air Products | 4 | -2.2% | |
| ALB Albemarle Corporation | 3 | -47.7% | |
| DD DuPont | 8 | +6.7% | |
| ECL Ecolab | 7 | +1.7% | |
| IFF International Flavors & Fragrances | 6 | +2.5% | |
| LIN Linde plc | 7 | -0.2% | |
| LYB LyondellBasell | 3 | -4.3% | |
| PPG PPG Industries | 5 | -4.7% | |
| SHW The Sherwin-Williams Company | 6 | +0.9% |