Air Products and Chemicals Inc Q4 2021 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: John Patrick McNulty - BMO Capital Markets Equity Research - Analyst : So Seifi, with the huge in spike energy prices that you saw over in Europe, and I imagine maybe even a little bit in Asia as well, I guess, can you speak to how quickly you can offset it with regard to price? Is it something where, look, you automatically kind of immediately put it all in? Or is it something that has to ease in over the next few quarters? I guess, how should we be thinking about that?

Question: John Patrick McNulty - BMO Capital Markets Equity Research - Analyst : Got it. So a quarter to kind of catch up on that? Okay.

Question: John Patrick McNulty - BMO Capital Markets Equity Research - Analyst : And then I guess when thinking about your margin target, where you expect to get the margins back up to kind of that 40% range, give or take, admitting that the rest of it really is more energy pass-through and doesn't -- isn't really a reflection of the business, I guess, can you speak to the timing of when you think you can get there? Is it something where we can kind of see the margins approaching that type of a level by the end of 2022? Is it going to take longer than that, I guess? And what are some of the measures that you really have to kind of enact in order to get back to those 40%-type levels?