Air Products And Chemicals Stock Earnings Reports

Air Products reported a solid fiscal Q3 with adjusted EPS of $3.09, ahead of guidance. Results were supported by strong base business performance and productivity gains but were weighed down by the prior-year sale of the LNG business, lower helium demand and several exited projects. Management reiterated full-year adjusted EPS guidance of $11.90–$12.10 (midpoint $12.00) and maintained full-year capital expenditure guidance of approximately $5.0 billion. Key strategic priorities highlighted: (1) continued execution of a global cost-reduction program that is expected to realize $185–$195 million of annual savings when fully implemented, (2) rollout of AI and digital initiatives to drive productivity and energy management savings, and (3) disciplined capital allocation focused on executing energy-transition projects (NEOM, Darrow) while investing selectively in core industrial-gas growth (electronics, on-site hydrogen). Management reiterated a 5-year roadmap targeting sustained high-single-digit (or better) adjusted EPS growth beginning FY2026, with a long-term objective of ~30% operating margins and ROCE in the mid-to-high teens by 2030. Notable near-term headwinds: helium is an ongoing cyclical challenge (estimated FY impact of roughly $0.55–$0.60 of EPS), and certain project exits (e.g., World Energy) reduced volumes and had one-time effects. Management remains cautious on the macro backdrop and will prioritize capital discipline and cash-neutrality over the next several years while preserving dividends.