Air ProductsAPDEarnings & Financial Report
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, gasificati...
Revenue
$3.1B
Gross Profit
$995.0M
Operating Profit
$734.5M
Net Profit
$678.2M
Gross Margin
32.1%
Operating Margin
23.7%
Net Margin
21.9%
YoY Growth
5.8%
EPS
$3.04
Air Products Q1 FY2026 Financial Summary
Air Products reported revenue of $3.1B (up 5.8% YoY) for Q1 FY2026, with a net profit of $678.2M (up 9.8% YoY) (21.9% margin). Cost of goods sold was $2.1B, operating expenses totaled $260.5M.
Key Financial Metrics
| Total Revenue | $3.1B |
|---|---|
| Net Profit | $678.2M |
| Gross Margin | 32.1% |
| Operating Margin | 23.7% |
| Report Period | Q1 FY2026 |
Revenue Breakdown
Air Products Q1 FY2026 revenue of $3.1B breaks down across 4 segments, led by Other at $1.6B (53.0% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Other | $1.6B | 53.0% |
| Onsite | $783.9M | 25.3% |
| Merchant | $557.8M | 18.0% |
| Saleof Equipment | $117.0M | 3.8% |
Air Products Revenue by Segment — Quarterly Trend
Air Products revenue by segment across the last 4 reported quarters, showing how each business line (such as Other and Onsite) has evolved quarter over quarter.
| Segment | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 |
|---|---|---|---|---|
| Other | — | $1.6B | $1.7B | $1.6B |
| Onsite | — | $783.9M | $736.5M | $708.1M |
| Merchant | — | $557.8M | $553.6M | $552.9M |
| Saleof Equipment | — | $117.0M | $185.6M | $142.9M |
Air Products Annual Revenue by Year
Air Products annual revenue history includes year-by-year totals (for example, 2025 revenue was $12.0B).
| Year | Annual Revenue |
|---|---|
| 2025 | $12.0B |
| 2024 | $12.1B |
Air Products Quarterly Revenue & Net Profit History
Air Products results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q2 FY2026 | $3.2B | +8.8% | $724.8M | 22.9% |
| Q1 FY2026 | $3.1B | +5.8% | $678.2M | 21.9% |
| Q4 FY2025 | $3.2B | -0.6% | $4.9M | 0.2% |
| Q3 FY2025 | $3.0B | +1.2% | $713.8M | 23.6% |
| Q2 FY2025 | $2.9B | -0.5% | $-1.7B | -59.3% |
| Q1 FY2025 | $2.9B | -2.2% | $617.4M | 21.1% |
| Q4 FY2024 | $3.2B | -0.1% | $1.9B | 61.2% |
| Q3 FY2024 | $3.0B | -1.6% | $696.6M | 23.3% |
Income Statement
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.99B | $3.19B | $2.93B | $2.92B | $3.02B | $3.17B | $3.10B | $3.17B |
| YoY Growth | -1.6% | -0.1% | -2.2% | -0.5% | 1.2% | -0.6% | 5.8% | 8.8% |
Balance Sheet
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $36.97B | $39.57B | $40.02B | $38.87B | $41.66B | $41.06B | $41.24B | $41.6M |
| Liabilities | $20.29B | $20.90B | $21.28B | $22.09B | $23.89B | $23.71B | $23.40B | $23.5M |
| Equity | $15.10B | $17.04B | $16.69B | $14.70B | $15.54B | $15.02B | $15.41B | $18.1M |
Cash Flow
| Q3 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q1 2026 | |
|---|---|---|---|---|---|
| Operating CF | $1.26B | $811.7M | $328.1M | $855.8M | $900.7M |