Air Products beats quarterly profit estimates, raises annual forecast
APD•Adjusted results and outlook
Air Products posted adjusted earnings per share of $3.47 for the quarter, above analysts' estimate of $3.34.
The company now expects fiscal 2026 adjusted earnings per share of $13.39 to $13.49, up from its prior view of $13.00 to $13.25. Analysts were expecting $13.17, according to data compiled by LSEG.
For the fourth quarter, the company expects adjusted profit of $3.55 to $3.65 per share, above expectations of $3.51 per share.
Supply note on helium volumes
Helium volumes from Air Products' Middle East source have remained limited as shipments currently require crossing the Red Sea, the company said on a post-earnings call.
The targeting of Saudi vessels by Houthi forces allied to Iran has affected shipping in the region.
Reported loss reflects clean energy charges
On a reported basis, Air Products posted a net loss attributable to the company of $1.44 billion, or $6.47 per share, for the quarter ended June 30, after recording about $2.9 billion in pre-tax charges.
The charges were tied to the company exiting a clean energy complex under construction in Louisiana, a green hydrogen production facility in Casa Grande, Arizona and other smaller clean energy distribution projects.
Quarterly profit tops estimates, annual outlook raised
Industrial gases company Air Products raised its fiscal 2026 earnings forecast on Thursday after posting better-than-expected third-quarter profit, while ruling out any financial impact from an attack at its Jazan facility in Saudi Arabia.
