Air Products and Chemicals (NYSE:APD) Announces Earnings Results

Air Products and Chemicals (NYSE:APD) announced its quarterly earnings results on Friday. The basic materials company reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.12, FiscalAI reports. The business 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 business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.86 EPS.

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

• Air Products reported first?quarter adjusted EPS of $3.16 (up 10%) and a 12% increase in adjusted operating income, and management reaffirmed full?year EPS guidance that implies roughly 7%–9% improvement at the midpoint.
• Management emphasized three 2026 priorities — unlock earnings growth, optimize large projects, and maintain capital discipline — including a planned reduction of approximately $1 billion in fiscal 2026 CapEx and a dividend increase (44th consecutive year).
• Air Products is in advanced negotiations with Yara to restructure the Darrow (Louisiana) ammonia project—Yara would take ammonia assets and sign a 25?year H2/N2 offtake—yet Air Products insists on a CCS partner, reliable EPC cost agreements, and an elevated go?forward return before a final investment decision; EU CBAM rule uncertainty could affect timing/terms.
• The NEOM green hydrogen JV is currently consolidated on Air Products’ balance sheet during construction (contributing to reported leverage of 2.2x net debt/EBITDA), but is expected to be deconsolidated when operational (mid?2027), which should remove project debt from the company’s balance sheet and improve leverage.
• Helium remains a material headwind — management reiterated an approximate ~4% EPS drag for the year from helium weakness and noted tougher year?over?year comps due to a prior?year non?recurring helium sale.

Air Products and Chemicals Stock Up 5.2%

Shares of Air Products and Chemicals stock traded up $13.25 during trading hours on Friday, reaching $269.27. 1,137,989 shares of the company’s stock were exchanged, compared to its average volume of 1,503,501. The company has a 50 day moving average of $254.11 and a two-hundred day moving average of $268.69. 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 current ratio of 1.38, a quick ratio of 1.20 and a debt-to-equity ratio of 0.98. The stock has a market cap of $59.94 billion, a P/E ratio of -151.34, a P/E/G ratio of 2.51 and a beta of 0.87.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Wednesday, April 1st will be given a $1.81 dividend. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.79. This represents a $7.24 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, April 1st. Air Products and Chemicals’s payout ratio is presently -406.74%.

Hedge Funds Weigh In On Air Products and Chemicals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MUFG Securities EMEA plc bought a new stake in Air Products and Chemicals in the 2nd quarter valued at $185,000. Man Group plc bought a new position in Air Products and Chemicals in the 2nd quarter valued at approximately $203,000. Johnson Financial Group Inc. boosted its holdings in shares of 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 acquiring an additional 631 shares in the last quarter. Armistice Capital LLC bought a new stake in shares of Air Products and Chemicals during the third quarter worth about $226,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Air Products and Chemicals during the 3rd quarter worth approximately $229,000. 81.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on APD shares. Deutsche Bank Aktiengesellschaft set a $255.00 target price on shares of Air Products and Chemicals in a research note on Wednesday, December 10th. Royal Bank Of Canada dropped their price target on shares of Air Products and Chemicals from $350.00 to $325.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Sanford C. Bernstein restated an “outperform” rating on shares of Air Products and Chemicals in a report on Tuesday, December 9th. Bank of America raised Air Products and Chemicals from an “underperform” rating to a “neutral” rating and set a $275.00 price objective for the company in a research report on Thursday, January 8th. Finally, Evercore ISI reduced their price objective on Air Products and Chemicals from $375.00 to $325.00 and set an “outperform” rating for the company in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $293.80.

Air Products and Chemicals Company Profile

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.