Air Products and Chemicals (NYSE:APD) Posts Quarterly Earnings Results, Hits Expectations

Posted by Stanley Muller on Nov 7th, 2026

Air Products and Chemicals (NYSE:APD – Get Free Report) issued its earnings results on Thursday. The basic materials company reported $3.61 earnings per share (EPS) for the quarter, meeting 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 business’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm 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 Down 1.6%

Shares of Air Products and Chemicals stock traded down $4.88 on Friday, reaching $304.61. The stock had a trading volume of 1,075,823 shares, compared to its average volume of 965,353. 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 capitalization of $67.83 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.98 and a beta of 0.67. The company has a 50 day moving average price of $294.94 and a 200 day moving average price of $290.92. Air Products and Chemicals has a 1 year low of $229.11 and a 1 year high of $324.00.

Air Products and Chemicals Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have commented on APD. UBS Group dropped 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. Sanford C. Bernstein reiterated an “outperform” rating and issued a $373.00 price target on shares of Air Products and Chemicals in a report on Friday, July 31st. Argus increased their price objective on Air Products and Chemicals from $316.00 to $329.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Barclays dropped their price objective on Air Products and Chemicals from $353.00 to $346.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company lifted their target price on Air Products and Chemicals from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and a consensus target price of $334.24.

Check Out Our Latest Report on Air Products and Chemicals

Trending Headlines about Air Products and Chemicals

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.