Air Products Reports Fiscal 2026 Results with 12% Adjusted EPS Growth and Strong Backlog
Air Products (APD) reported strong fiscal 2026 financial results, highlighted by a 12% increase in adjusted earnings per share to $13.45. The company achieved total sales of $13.0 billion, an 8% year-over-year increase driven by higher volumes and favorable currency impacts. Operating margins improved to 24.4%, supported by strategic pricing actions and a workforce reduction plan that yielded $95 million in savings. The company maintains a robust industrial gas backlog of $3.3 billion, bolstered significantly by over $2 billion in new electronics project wins over the past year. Looking ahead to fiscal 2027, Air Products issued adjusted EPS guidance of $14.15 to $14.50, representing projected growth of 5% to 8%. While management expects a shift toward positive net cash flow in 2027, they cautioned that higher tax rates and increased interest expenses from canceled projects will present headwinds.