Air Products & Chemicals Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2014. For the quarter, the company reported sales of USD 2,560.8 million compared to USD 2,545.5 million a year ago. Operating income was USD 430.0 million compared to USD 385.6 million a year ago. Income from continuing operations before taxes were USD 444.0 million compared to USD 390.5 million a year ago. Income from continuing operations were USD 337.5 million compared to USD 296.0 million a year ago. Net income was USD 337.5 million compared to USD 299.1 million a year ago. Net income attributable to the company was USD 324.6 million compared to USD 290.2 million a year ago. Net income from continuing operations attributable to the company was USD 324.6 million compared to USD 287.1 million a year ago. Diluted income per share from continuing operations was USD 1.50 compared to USD 1.34 a year ago. Diluted income per share attributable to the company was USD 1.50 compared to USD 1.35 a year ago. Cash provided by operating activities were USD 486.6 million compared to USD 546.2 million a year ago. Additions to plant and equipment was USD 446.5 million compared to USD 391.1 million a year ago. Adjusted EBITDA was USD 723.1 million against USD 658.0 million a year ago.

The company expects second quarter EPS from continuing operations to be between USD 1.50 and USD 1.55 per share, and guidance for continuing operations for fiscal 2015 of USD 6.35 to USD 6.55 per share.

The capital expenditure forecast for the fiscal year 2015 remains between USD 1.7 billion and USD 1.9 billion. For the remainder of fiscal 2015, the company expects to continue delivering higher EBITDA due to cost-reduction efforts. The company certainly working towards being free cash flow-positive for fiscal year 2015. The company's tax rate of 24% remained unchanged versus prior year.