Air Products and Chemicals (NYSE:APD) Issues Quarterly Earnings Results

Air Products and Chemicals (NYSE:APD) issued its earnings results on Thursday. The basic materials company reported $3.61 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.61, FiscalAI reports. The firm had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.33 billion. Air Products and Chemicals had a negative net margin of 0.38% and a positive return on equity of 16.87%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business earned $3.39 earnings per share.

Here are the key takeaways from Air Products and Chemicals’ conference call:

• Air Products reported FY2026 adjusted EPS of $13.45, up 12%, on 8% sales growth and 11% operating income growth. Operating margin expanded 70 basis points to 24.4%, and return on capital rose 100 basis points to 11.9%.
• For FY2027, the company forecasts adjusted EPS of $14.15–$14.50, up 5%–8%, citing new-asset ramp-ups, volume growth, pricing and productivity. Management expects about 2% base volume growth plus contributions from new assets, while higher interest expense and taxes are expected to be a roughly 2% EPS headwind.
• Traditional industrial gas backlog reached $3.3 billion, with more than $2 billion in project wins over the past year, largely tied to electronics. FY2027 capital spending is forecast at $3.0–$3.5 billion, including more than $1 billion for traditional industrial gas growth projects.
• More than $2 billion of spending remains to complete the company’s energy-transition projects, with most expected in FY2027 and the remainder in FY2028. Management said these projects are not expected to contribute materially to future operating income; NEOM is expected to have no material FY2027 financial impact.
• Management expects FY2027 to generate positive net cash flow as stronger operating cash flow and anticipated asset-sale proceeds offset capital spending and dividends. The company also cited $95 million in FY2026 cost savings and said it had completed about 93% of its previously announced workforce reduction.

Air Products and Chemicals Stock Performance

NYSE:APD traded down $4.88 on Friday, hitting $304.61. The stock had a trading volume of 1,075,823 shares, compared to its average volume of 965,353. The business’s 50-day simple moving average is $294.94 and its two-hundred day simple moving average is $290.92. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.01. The stock has a market cap of $67.83 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 2.98 and a beta of 0.67. Air Products and Chemicals has a 52-week low of $229.11 and a 52-week high of $324.00.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 8th. Shareholders of record on Monday, January 4th will be given a $1.81 dividend. This represents a $7.24 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, January 4th. Air Products and Chemicals’s dividend payout ratio (DPR) is presently -3,290.91%.

Analyst Ratings Changes

APD has been the topic of a number of recent research reports. Barclays dropped their price target on shares of Air Products and Chemicals from $353.00 to $346.00 and set an “overweight” rating on the stock in a research note on Friday. Royal Bank Of Canada increased their price objective on Air Products and Chemicals from $346.00 to $359.00 and gave the company an “outperform” rating in a research report on Friday. KeyCorp initiated coverage on shares of Air Products and Chemicals in a research note on Thursday, September 10th. They issued a “sector weight” rating for the company. UBS Group decreased their target price on shares of Air Products and Chemicals from $336.00 to $305.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. Finally, Weiss Ratings upgraded Air Products and Chemicals from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $334.24.

Key Air Products and Chemicals News

Here are the key news stories impacting Air Products and Chemicals this week:

• Positive Sentiment: Fiscal Q4 adjusted EPS of $3.61 met consensus, while revenue rose 12.3% year over year to $3.56 billion, above estimates. The company also reported 12% growth in full-year adjusted EPS, reduced capital spending, and more than $2 billion in new electronics wins. Air Products fiscal 2026 results and guidance
• Positive Sentiment: Air Products forecast fiscal 2027 adjusted EPS of $14.15–$14.50, above its fiscal 2026 result of $13.45, indicating continued expected earnings growth.
• Positive Sentiment: RBC raised its price target to $359 and maintained an Outperform rating; Mizuho also raised its target, to $360, and kept an Outperform rating. RBC raises price target
• Neutral Sentiment: Barclays lowered its target to $346 from $353 but retained an Overweight rating, leaving its view positive while signaling a slightly reduced valuation outlook. Barclays recommendations
• Negative Sentiment: Reported GAAP results were weighed down by significant charges tied mainly to exiting two China coal-gasification projects. Full-year GAAP EPS was $2.39, far below adjusted EPS of $13.45, highlighting execution and project-related risks despite stronger core performance.

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