Air Products and Chemicals (APD) reported fiscal Q2 adjusted earnings Thursday of $2.69 per diluted share, down from $2.85 a year earlier.

Analysts polled by FactSet expected $2.83.

Sales for the quarter ended March 31 were $2.92 billion, down from $2.93 billion a year earlier.

Analysts surveyed by FactSet expected $2.92 billion.

The producer of industrial gases expects fiscal Q3 adjusted EPS of $2.90 to $3.00. Analysts polled by FactSet expect $3.27.

The company said it now expects fiscal 2025 adjusted EPS of $11.85 to $12.15. That compares with $12.70 to $13.00 previously. Analysts surveyed by FactSet expect $12.53.

Shares of the company were down more than 5% in recent premarket activity.