Air Products Q3 profit beats on higher on-site volumes

Air Products and Chemicals

30/07/2026 11:11

Overview
U.S. industrial gases supplier's fiscal Q3 adjusted EPS rose 12% and beat analyst expectations
Q3 sales rose 5% year-over-year, meeting analyst expectations
Company took $2.9 bln charge for project exits, resulting in large GAAP net loss

Outlook
Air Products raises fiscal 2026 full-year adjusted EPS guidance to $13.39-$13.49
Company sees fiscal 2026 fourth quarter adjusted EPS of $3.55-$3.65
Air Products expects fiscal 2026 capital expenditures of about $3.5 bln

Result Drivers
ON-SITE VOLUMES AND PRICING - Co said higher on-site volumes, favorable currency, and increased pricing drove adjusted operating income and EPS, partially offset by higher costs
ELECTRONICS AND NEW ASSETS - Co cited electronics growth and new long-term supply agreements, including for semiconductor expansion in Taiwan, as supporting volume growth
PORTFOLIO OPTIMIZATION - Co said project exit decisions, including not proceeding with certain clean energy projects, are expected to reduce capital expenditures and focus on traditional industrial gas projects

Company press release: ID:nPnF5BpGa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Sales
Meet
$3.2 bln
$3.20 bln (15 Analysts)
Q3 Adjusted EPS
Beat
$3.47
$3.34 (17 Analysts)
Q3 Loss Per Share
 
$6.47
 
Q3 Net Loss
 
$1.44 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the commodity chemicals peer group is "buy"
Wall Street's median 12-month price target for Air Products and Chemicals Inc is $343.50, about 16.7% above its July 29 closing price of $294.27
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 21 three months ago

Reuters Recommended Reads
July 28 - Air Liquide reaffirms margin targets as investors await backlog payoff
July 29 - LSB Industries Q2 sales beat estimates on higher prices
July 28 - Ashland Q3 profit beats on higher volume, pricing; cuts FY EPS forecast

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)