Air Products & Chemicals Inc (NYSE:APD) reported better-than-expected first-quarter fiscal 2026 results on Friday.
The industrial gases company posted revenue of $3.103 billion, up 6% from $2.932 billion a year earlier and above the $3.051 billion analyst estimate. Adjusted EPS was $3.16, up 10% year over year and exceeding the top end of company guidance. The result beat the $3.04 analyst estimate.
Chief Executive Officer Eduardo Menezes said, “We had strong results from the base business, with a 10% increase in adjusted EPS compared to the prior year period, and also posted a 12% improvement in adjusted operating income despite helium headwinds in the quarter. This is a solid start as the Air Products team continues to focus on unlocking earnings growth, optimizing large projects, and maintaining capital discipline.”
Air Products affirmed full-year fiscal 2026 adjusted EPS guidance of $12.85 to $13.15, compared with the $12.96 analyst estimate. The company continues to expect fiscal 2026 capital expenditures of approximately $4.0 billion. Second-quarter adjusted EPS is expected to range from $2.95 to $3.10, versus the $3.02 estimate.
Air Products shares gained 0.7% to trade at $274.40 on Monday.
These analysts made changes to their price targets on Air Products following earnings announcement.
- JP Morgan analyst Jeffrey Zekauskas maintained Air Products with a Neutral and raised the price target from $260 to $280.
- Wells Fargo analyst Michael Sison maintained the stock with an Equal-Weight rating and raised the price target from $250 to $270.
Considering buying APD stock? Here’s what analysts think:
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