Air Products’ sales surge continues as revenue rises 5%

• Air Products reported fiscal third-quarter 2026 sales of $3.2 billion, up 5% year over year.
• Adjusted EPS increased 12% to $3.47, while GAAP results included a $2.9 billion pre-tax charge.
• The company raised fiscal 2026 adjusted EPS guidance to $13.39–$13.49.

Air Products and Chemicals (NYSE:APD) reported fiscal third-quarter 2026 sales of $3.2 billion, up 5% year over year, while GAAP results reflected charges related to previously announced project exits.

The company reported a GAAP operating loss of $2.1 billion and a GAAP loss per share of $6.47, compared with adjusted operating income of $810 million, up 9%, and adjusted EPS of $3.47.

Air Products recorded approximately $2.9 billion in pre-tax business and asset action charges, while adjusted operating margin increased 110 basis points to 25.6% and equity affiliates’ income reached $205.2 million, including $101 million from Middle East and India affiliates.

Air Products raised its fiscal 2026 adjusted EPS guidance to $13.39–$13.49.

The company expects fiscal 2026 capital expenditure of about $3.5 billion and highlighted a long-term electronics supply agreement in Taiwan and decisions related to its Louisiana Clean Energy Complex and certain U.S. hydrogen projects.

Air Products also finalized a renewable ammonia marketing and distribution agreement with Yara for products from the NEOM Green Hydrogen Project while continuing operations across industrial gases, energy and technology markets.