Air Products & Chemicals, Inc. reported third-quarter 2026 results with revenue of $3.16B, a 4.6% increase from $3.02B a year earlier, while net income swung to a loss of ($1.42B) from income of $723.2M and diluted EPS was ($6.47) versus $3.2 in the prior-year quarter.
Financial Highlights
| MetricCurrent quarterPrior year quarterYoY change | Revenue¹$3.16B$3.02B4.6% | Net income²($1.42B)$723.2M(296.7%) | Diluted EPS³($6.47)$3.2(302.2%) |
¹ Reported as “Sales”. ² Reported as “Net Income (Loss)”. ³ Reported as “Diluted earnings (loss) per share attributable to Air Products”.
Business Highlights
- Revenue growth was driven by higher volumes at on-site and HyCO facilities and favorable foreign exchange, supporting about 5% growth in the quarter and 6% year-to-date.
- Channel mix shifted toward on-site assets and HyCO operations; merchant helium volumes were mixed with some pricing pressure noted.
- Adjusted operating income improved (up mid-to-high single digits) reflecting productivity gains, lower depreciation, and cost-reduction actions.
- The company recorded project exit charges for cancelled clean-energy projects; NEOM is nearing completion with reduced natural gas hydrogen complex capital spend.
- Regional performance was led by the Americas, Asia and Europe on-site contributions, and higher equity affiliate income from Mexico and Saudi Arabia affiliates.
Original SEC Filing:
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