Shares of Air Products & Chemicals (APD) tumbled 5.53% in pre-market trading on Thursday following the company's disappointing fiscal second-quarter results and reduced full-year outlook.

The industrial gases giant reported adjusted earnings per share of $2.69 for the quarter ended March 31, falling short of analyst expectations of $2.83 and down from $2.85 in the same period last year. Quarterly sales came in at $2.9 billion, missing estimates of $2.925 billion and slightly below the $2.93 billion reported a year ago.

Adding to investor concerns, Air Products significantly lowered its full-year adjusted earnings guidance. The company now expects fiscal 2025 adjusted EPS in the range of $11.85 to $12.15, down from its previous forecast of $12.70 to $13.00. This reduction suggests ongoing challenges in the company's operating environment.

Further impacting the financials, Air Products disclosed a substantial $2.3 billion after-tax charge recorded during the quarter for business and asset actions. While specific details were not provided, such a large charge typically signals significant restructuring or impairment costs that could affect the company's near-term profitability.

The combination of missed quarterly results, lowered full-year guidance, and the substantial charge appears to have shaken investor confidence, leading to the sharp pre-market decline. As trading opens, investors will be closely watching for any additional commentary from management on the company's outlook and strategies to address the current headwinds.