Air Products and Chemicals (NYSE:APD) Releases Q2 2026 Earnings Guidance

Air Products and Chemicals (NYSE:APD) updated its second quarter 2026 earnings guidance on Friday. The company provided earnings per share guidance of 2.950-3.100 for the period, compared to the consensus earnings per share estimate of 3.030. The company issued revenue guidance of -. Air Products and Chemicals also updated its FY 2026 guidance to 12.850-13.150 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on APD shares. Evercore ISI reduced their price target on Air Products and Chemicals from $375.00 to $325.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $250.00 price objective (down from $330.00) on shares of Air Products and Chemicals in a research note on Friday, December 19th. Argus reduced their target price on Air Products and Chemicals from $317.00 to $265.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Sanford C. Bernstein restated an “outperform” rating on shares of Air Products and Chemicals in a report on Tuesday, December 9th. Finally, Mizuho dropped their price target on shares of Air Products and Chemicals from $300.00 to $290.00 and set an “outperform” rating on the stock in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average price target of $288.00.

Air Products and Chemicals Trading Up 6.5%

Shares of APD stock opened at $272.56 on Friday. Air Products and Chemicals has a fifty-two week low of $229.11 and a fifty-two week high of $341.14. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.20 and a current ratio of 1.38. The stock has a 50 day simple moving average of $254.42 and a two-hundred day simple moving average of $268.56. The company has a market cap of $60.67 billion, a P/E ratio of -153.12, a PEG ratio of 2.52 and a beta of 0.87.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Friday, January 30th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.12. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a positive return on equity of 15.18% and a negative net margin of 3.28%.The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.86 EPS. Air Products and Chemicals has set its Q2 2026 guidance at 2.950-3.100 EPS and its FY 2026 guidance at 12.850-13.150 EPS. Research analysts forecast that Air Products and Chemicals will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Wednesday, April 1st will be paid a $1.81 dividend. This represents a $7.24 annualized dividend and a yield of 2.7%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.79. The ex-dividend date of this dividend is Wednesday, April 1st. Air Products and Chemicals’s payout ratio is presently -402.25%.

Air Products and Chemicals News Summary

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

• Positive Sentiment: Q1 results beat expectations — adjusted EPS $3.16 vs. $3.04 expected and revenue $3.10B vs. $3.05B, with margins benefiting from lower costs and pricing. This beat is the primary driver of the rally. APD Q1 Earnings Beat on Lower Costs
• Positive Sentiment: Management maintained FY?2026 guidance (EPS 12.85–13.15) and set Q2 guidance (2.95–3.10), signaling confidence in the business and limiting downside from the quarter. Air Products Reports Fiscal 2026 First Quarter Results
• Positive Sentiment: Corporate wins and shareholder actions: increased quarterly dividend to $1.81 (44th consecutive annual raise) and new/ongoing contracts including >$140M in NASA liquid?hydrogen awards and progress on low?emission ammonia deals — supportive for long?term revenue visibility. Air Products Reports Fiscal 2026 First Quarter Results
• Neutral Sentiment: Guidance relative to consensus is mixed — the company’s FY and Q2 ranges are essentially maintained but sit near or slightly below some street estimates (e.g., consensus Q2 ~3.03; FY consensus cited ~12.93), which could cap upside until guidance traction is confirmed.
• Neutral Sentiment: Planned capital expenditures remain high (~$4.0B for FY?2026). That supports growth projects (H2, ammonia, hydrogen infrastructure) but may constrain free cash flow near term. Air Products Reports Fiscal 2026 First Quarter Results
• Negative Sentiment: Relative performance: some coverage noted APD underperformed peers recently, a reminder of potential short?term volatility if sector momentum fades. Air Products Underperforms Peers

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in APD. MUFG Securities EMEA plc bought a new stake in shares of Air Products and Chemicals during the second quarter valued at approximately $185,000. Man Group plc acquired a new stake in Air Products and Chemicals in the 2nd quarter valued at $203,000. Johnson Financial Group Inc. increased its stake in Air Products and Chemicals by 412.4% during the 3rd quarter. Johnson Financial Group Inc. now owns 784 shares of the basic materials company’s stock valued at $214,000 after purchasing an additional 631 shares in the last quarter. Armistice Capital LLC acquired a new position in Air Products and Chemicals during the third quarter worth $226,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Air Products and Chemicals in the third quarter valued at $229,000. Institutional investors own 81.66% of the company’s stock.

About Air Products and Chemicals

Air Products and Chemicals, Inc is a global supplier of industrial gases and related equipment and services, headquartered in Allentown, Pennsylvania. The company produces and delivers atmospheric gases such as oxygen, nitrogen and argon, as well as specialty and process gases used across a wide range of industrial applications. Air Products designs, builds and operates gas production facilities, merchant distribution networks and on-site gas systems for customers that require reliable, high-purity gases and integrated supply solutions.

The company’s product and service portfolio includes packaged and bulk gas supply, pipeline distribution, on-site generation, gas handling and storage equipment, and engineered systems for gas liquefaction and purification.