Loading...
•
Dec 31, 2025
Air Products Q1 2026 Earnings Report
Air Products posted a strong Q1 2026 with growth in revenue, EPS, and net income, exceeding guidance and delivering solid performance across key segments.
Key Takeaways
Air Products exceeded its Q1 2026 guidance with solid performance across regions, driven by improved pricing, favorable currency, and productivity-driven cost improvements. Adjusted EPS hit the high end of expectations.
Adjusted EPS of $3.16 exceeded the top-end of guidance.
Total sales rose to $3.1 billion, driven by pricing, currency gains, and energy cost pass-through.
Americas segment saw higher pricing offset lower helium volume.
Strong productivity improvements led to higher operating income across all major segments.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Air Products maintained its full-year adjusted EPS guidance of $12.85 to $13.15 and projected Q2 EPS between $2.95 and $3.10. Capital expenditures for FY26 are expected to remain around $4.0 billion.
Positive Outlook
- Maintained strong adjusted EPS guidance for FY26.
- Q2 2026 adjusted EPS expected to be in $2.95–$3.10 range.
- Ongoing focus on capital discipline and large project optimization.
- Recent $140M NASA contracts support hydrogen business momentum.
- Dividend increase continues 44-year growth streak.
Challenges Ahead
- Helium volumes declined versus prior year due to non-recurring prior event.
- Fixed-cost inflation impacted margins despite productivity gains.
- Headwinds from higher energy cost pass-through in Americas segment.
- Lower maintenance benefit offset by prior-year equity investment sale.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...