July 31 (Reuters) - Air Products APD.N forecast lower-than-expected fourth-quarter profit on Thursday and narrowed its full-year earnings expectation as weak helium demand, project exits and the impact of a prior LNG business sale continued to weigh on volumes.

U.S. manufacturing remained sluggish in June, eroding business and consumer confidence and impacting demand for Air Products' gases and related services.

The chemicals industry, which had previously been struggling with high inventory that led to destocking, is also facing weaker demand in key markets like China and Europe.

The company projected fourth-quarter adjusted EPS of $3.27 to $3.47, below analysts' average estimate of $3.48, according to data compiled by LSEG.

The industrial gas manufacturer now expects adjusted earnings per share of $11.90 to $12.10 for fiscal 2025, compared with its previous range of $11.85 to $12.15.

In the third quarter, Air Products booked a $99 million gain from the sale of a subsidiary and other assets, offset by $25 million in shareholder activism-related expenses and a $24 million charge for cost revisions on exited projects.

This comes after the company lost the proxy fight against activist investor Mantle Ridge.

For the reported quarter, strength in Europe and Asia was offset by margin pressure and falling volumes in its core Americas segment, weighed down by weakness in helium demand and project exits.

The company said Americas operating income in third quarter fell 4% to $374 million, with margins contracting 200 basis points to 29.7%, hurt by higher maintenance-related depreciation and the impact of previously announced project shutdowns.

Volumes in the region dropped 6%, reflecting reduced on-site activity and sluggish helium sales.

The Lehigh Valley, Pennsylvania-based company posted an adjusted profit of $3.09 per share in the April-June quarter, compared to analysts' estimates of $2.99 per share, according to data compiled by LSEG.

(Reporting by Arunima Kumar in Bengaluru; Editing by Vijay Kishore)

((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94 ;))