- Fiscal 2025 adjusted EPS was $12.03 with a $2.9 billion operating income.
- Q4 adjusted EPS was $3.39 with an operating income of $812 million.
- Fiscal 2026 EPS guidance is $12.85 to $13.15 with $4 billion in capital expenditures expected.
- Europe sales increased 8% with a 15% rise in operating income.
Fiscal 2025 Overview
Air Products reported a fiscal 2025 adjusted EPS of $12.03, surpassing the guidance midpoint, with an adjusted operating income of $2.9 billion. The GAAP results showed a loss per share of $1.74 and an operating loss of $877 million, influenced by significant charges related to business and asset actions.
Fourth Quarter Results
In Q4, the company achieved an adjusted EPS of $3.39 and an adjusted operating income of $812 million. GAAP results included an EPS of $0.02 and an operating income of $17 million. Sales for the quarter were $3.2 billion, a 1% decrease from the previous year, with lower volumes partially offset by higher energy cost pass-through and favorable currency.
Segment Performance
Americas sales were $1.3 billion, down 1% due to lower volumes, while Asia sales increased 1% to $870 million, despite lower helium volumes. Europe saw an 8% sales increase to $789 million, driven by higher volumes and pricing. Middle East and India equity affiliates' income remained flat at $92 million.
Fiscal 2026 Outlook
For fiscal 2026, Air Products projects an adjusted EPS between $12.85 and $13.15, with capital expenditures expected to reach approximately $4 billion. The first quarter EPS guidance is set between $2.95 and $3.10.
