Overview

* Air Products Q4 sales slightly beat analyst expectations

* Adjusted EPS for Q4 beats consensus, reflecting operational excellence

* Fiscal 2025 results impacted by significant charges related to business and asset actions

Outlook

* Air Products expects fiscal 2026 adjusted EPS of $12.85 to $13.15

* Company anticipates fiscal 2026 capital expenditures of approximately $4 bln

* Air Products forecasts Q1 fiscal 2026 adjusted EPS of $2.95 to $3.10

Result Drivers

* VOLUME DECLINE - Lower volumes due to LNG business sale and reduced helium demand impacted results

* COST MANAGEMENT - Productivity improvements partially offset higher fixed-cost inflation and depreciation

* PROJECT PORTFOLIO RATIONALIZATION - Exited various energy transition projects to focus on core industrial gases

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q4 Sales Slight $3.20 $3.18

Beat* bln bln (15

Analysts

)

Q4 Beat $3.39 $3.38

Adjusted (17

EPS Analysts

)

Q4 EPS $0.02

Q4 NET $10.10

INCOME mln

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the commodity chemicals peer group is "buy"

* Wall Street's median 12-month price target for Air Products and Chemicals Inc ( APD ) is $325.00, about 26.9% above its November 5 closing price of $237.56

* The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 22 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)