Air Products beats quarterly profit estimates, raises annual forecast (updated)

Air Products and Chemicals

30/07/2026 15:09

Adds shares and details from the call
By Arunima Kumar
July 30 (Reuters) - Industrial gases company Air Products APD.N raised its fiscal 2026 earnings forecast on Thursday after posting better-than-expected third-quarter profit, while ruling out any financial impact from an attack at its Jazan facility in Saudi Arabia.
Air Products, whose shares rose about 4% in morning trading, also said it was discussing with strategic buyers and working with international and local banks to market some gasification assets in Asia.
The company earlier announced plans to exit several clean energy projects, with CEO Eduardo Menezes seeking to optimize its portfolio and reduce capital spending.
On a reported basis, Air Products posted a net loss attributable to the company of $1.44 billion, or $6.47 per share, for the quarter ended June 30, after recording about $2.9 billion in pre-tax charges. 
The charges were tied to the company exiting a clean energy complex under construction in Louisiana, a green hydrogen production facility in Casa Grande, Arizona and other smaller clean energy distribution projects.
Helium volumes from Air Products' Middle East source have remained limited as shipments currently require crossing the Red Sea, the company said on a post-earnings call. 
The targeting of Saudi vessels by Houthi forces allied to Iran has affected shipping in the region.
Air Products posted adjusted earnings per share of $3.47 for the quarter, above analysts' estimate of $3.34. 
The company now expects fiscal 2026 adjusted earnings per share of $13.39 to $13.49, up from its prior view of $13.00 to $13.25. Analysts were expecting $13.17, according to data compiled by LSEG.
For the fourth quarter, the company expects adjusted profit of $3.55 to $3.65 per share, above expectations of $3.51 per share.

 (Reporting by Arunima Kumar in Bengaluru; Editing by Joyjeet Das)
 ((Arunima.Kumar@thomsonreuters.com;))