APD Stock - Air Products and Chemicals, Inc.
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Financial Statements
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $12.04B | $12.10B | $12.60B | $12.70B | $10.32B |
| Gross Profit | $3.78B | $3.93B | $3.77B | $3.36B | $3.14B |
| Gross Margin | 31.4% | 32.5% | 29.9% | 26.5% | 30.4% |
| Operating Income | $-877,000,000 | $4.47B | $2.49B | $2.34B | $2.28B |
| Net Income | $-394,500,000 | $3.83B | $2.30B | $2.26B | $2.10B |
| Net Margin | -3.3% | 31.6% | 18.3% | 17.8% | 20.3% |
| EPS | $-1.77 | $17.21 | $10.31 | $10.11 | $9.16 |
Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals. It also designs and manufactures equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction, and liquid helium and liquid hydrogen transport and storage. Air Products and Chemicals, Inc. has a strategic collaboration with Baker Hughes Company to develop hydrogen compression systems. The company was founded in 1940 and is headquartered in Allentown, Pennsylvania.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 19th 2025 | Wells Fargo | Downgrade | Equal Weight | $250 |
| December 15th 2025 | Citigroup | Downgrade | Neutral | $245 |
| December 12th 2025 | UBS | Downgrade | Neutral | $250 |
| September 12th 2025 | Argus | Upgrade | Buy | - |
| June 13th 2025 | RBC Capital Mkts | Initiation | Outperform | $355 |
| May 29th 2025 | Morgan Stanley | Resumed | Equal Weight | $290 |
| April 15th 2025 | BofA Securities | Downgrade | Underperform | $282 |
| February 7th 2025 | BMO Capital Markets | Downgrade | Market Perform | - |
| February 7th 2025 | JP Morgan | Downgrade | Neutral | $320← $345 |
| January 31st 2025 | Bernstein | Upgrade | Outperform | $375 |
| January 27th 2025 | BofA Securities | Downgrade | Neutral | $350 |
| January 24th 2025 | Barclays | Upgrade | Overweight | $365← $315 |
| January 14th 2025 | Wells Fargo | Upgrade | Overweight | - |
| November 18th 2024 | UBS | Upgrade | Buy | $375 |
| October 25th 2024 | Redburn Atlantic | Upgrade | Neutral | $330 |
Earnings History & Surprises
APDEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 29, 2026 | — | — | — | — |
Q1 2026 | Feb 5, 2026 | $3.05 | — | — | — |
Q4 2025 | Nov 6, 2025 | $3.38 | $3.39 | +0.3% | ✓ BEAT |
Q3 2025 | Jul 31, 2025 | $2.99 | $3.09 | +3.3% | ✓ BEAT |
Q2 2025 | May 1, 2025 | $2.83 | $2.69 | -4.9% | ✗ MISS |
Q1 2025 | Feb 6, 2025 | $3.13 | $2.86 | -8.6% | ✗ MISS |
Q4 2024 | Nov 7, 2024 | $3.48 | $3.56 | +2.3% | ✓ BEAT |
Q3 2024 | Aug 1, 2024 | $3.03 | $3.20 | +5.6% | ✓ BEAT |
Q2 2024 | Apr 30, 2024 | $2.69 | $2.85 | +5.9% | ✓ BEAT |
Q1 2024 | Feb 5, 2024 | $3.00 | $2.82 | -6.0% | ✗ MISS |
Q4 2023 | Nov 7, 2023 | $3.12 | $3.15 | +1.0% | ✓ BEAT |
Q3 2023 | Aug 3, 2023 | $2.91 | $2.98 | +2.4% | ✓ BEAT |
Q2 2023 | May 9, 2023 | $2.64 | $2.74 | +3.8% | ✓ BEAT |
Q1 2023 | Feb 2, 2023 | $2.70 | $2.64 | -2.2% | ✗ MISS |
Q4 2022 | Nov 3, 2022 | $2.76 | $2.89 | +4.7% | ✓ BEAT |
Q3 2022 | Aug 4, 2022 | $2.61 | $2.62 | +0.4% | ✓ BEAT |
Q2 2022 | May 5, 2022 | $2.35 | $2.38 | +1.3% | ✓ BEAT |
Q1 2022 | Feb 4, 2022 | $2.51 | $2.52 | +0.4% | ✓ BEAT |
Q4 2021 | Nov 4, 2021 | $2.49 | $2.51 | +0.8% | ✓ BEAT |
Q3 2021 | Aug 9, 2021 | $2.37 | $2.31 | -2.5% | ✗ MISS |
Latest News
Wells Fargo Downgrades Air Products to Equal-Weight, Lowers Price Target to $250
📉 NegativeMizuho Maintains Outperform on Air Products, Lowers Price Target to $290
➖ NeutralCitigroup Downgrades Air Products to Neutral, Lowers Price Target to $245
📉 NegativeUBS Downgrades Air Products to Neutral, Lowers Price Target to $250
➖ NeutralArgus Research Maintains Buy on Air Products, Lowers Price Target to $265
📈 PositiveAir Products plunged to worst loss on S&P after nearing Yara deal for Louisiana blue hydrogen plant
📉 NegativeAir Products, Yara Advance Partnership Talks To Scale Low-Emission Ammonia Supply Across US And Saudi Arabia
📈 PositiveEvercore ISI Group Maintains Outperform on Air Products, Lowers Price Target to $325
➖ NeutralJP Morgan Maintains Neutral on Air Products, Lowers Price Target to $260
📉 NegativeWells Fargo Maintains Overweight on Air Products, Lowers Price Target to $330
➖ NeutralRBC Capital Maintains Outperform on Air Products, Lowers Price Target to $325
➖ NeutralUBS Maintains Buy on Air Products, Lowers Price Target to $310
➖ NeutralAir Products and Chemicals shares are trading higher after the company reported better-than-expected Q4 adjusted EPS results and issued FY26 adjusted EPS guidance above estimates.
📈 PositiveAir Products Sees Q1 Adj EPS $2.95-$3.10 vs $3.08 Est
➖ NeutralAir Products Sees FY2026 Adj EPS $12.85-$13.15 vs $12.01 Est
📈 PositiveAir Products & Chemicals Q4 Adj. EPS $3.39 Beats $3.38 Estimate, Sales $3.167B Miss $3.176B Estimate
➖ NeutralUBS Maintains Buy on Air Products, Lowers Price Target to $350
➖ NeutralCitigroup Maintains Buy on Air Products, Lowers Price Target to $308
➖ NeutralArgus Research Upgrades Air Products to Buy
📈 PositiveAir Products Starts New Air Separation Facility In Cleveland Under Long-Term Supply Contract For Gaseous Oxygen, Nitrogen, And Liquid Argon; Expands Existing Plant To Serve Regional Market
📈 PositiveFrequently Asked Questions about APD
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