Air Products & Chemicals, Inc.

Air Products Q3 FY26 — Strong Operating Income and Raised Full-Year EPS Guidance

• Strength Operating income increased 9% compared to the prior year.
• Watch Recorded a pretax charge of $2.9 billion due to the decision to exit the Louisiana project, Casa Grande, Arizona project, and other smaller clean energy distribution projects.

Air Products Q2 FY26 — Broad-based operating income growth lifts EPS 19%, full-year guide raised

• Strength Adjusted EPS of $3.20, up 19% (+$0.51) YoY, exceeding the top end of guidance on stronger on-site volume and better-than-expected helium volume from space launches
• Watch Helium remains an ~4% drag on FY26 EPS on lower price, with Qatar (≈1/3 of world helium supply) curtailed and its Air Products-connected plant down since December

Air Products Q1 FY26 — Strong Operating Income Growth Despite Helium Headwinds

• Strength Adjusted operating income improved 12% across all reporting segments in Q1 FY26.
• Watch Helium headwinds, including a prior year nonrecurring sale, negatively impacted EPS by approximately $0.10 in Q1 FY26.

Air Products Q4 FY25 — Delivering on Commitments Amidst Headwinds

• Strength Delivered EPS of $12.03, above the midpoint of full-year fiscal guidance.
• Watch Anticipates additional helium headwinds in 2026, comparable to FY25, impacting EPS growth.

Air Products Q1 FY25 — Strong EPS Exceeds Guidance Despite Headwinds

• Strength Adjusted EPS of $2.86 exceeded the upper end of guidance, increasing $0.04 year-over-year despite a $0.08 headwind from the LNG business divestment.
• Watch Overall volume was down 2% primarily due to the LNG business divestment and weakness in Europe.