APD

EX-99.1

2 exhibit99130sep26.htm

EXHIBIT-99.1

Document

Exhibit 99.1

News Release

Air Products Reports Fiscal 2026 Full-Year and Fourth Quarter Results; Provides Fiscal 2027 Guidance Delivered double-digit adjusted EPS growth in fiscal 2026 | Improved core business performance Reduced capital spend relative to prior year | Expanded backlog, including over $2.0 billion of new electronics wins

Fiscal 2026 Full-Year Summary of Results (comparison versus prior year)

•GAAP earnings per share ("EPS")# of $2.39 and operating income of $23 million (compared to loss per share of $1.74 and operating loss of $877 million in the prior year); both periods reflect significant charges related to project exits

•Adjusted earnings per share* of $13.45 increased 12 percent and exceeded guidance midpoint; adjusted operating income* of $3.2 billion increased 11 percent

•Cash used for investing activities of $4.1 billion, down $3.0 billion; capital expenditures* of $3.3 billion, down $1.8 billion

Q4 FY26 Summary of Results (comparison versus prior year)

•GAAP EPS# of $2.62 and operating income of $633 million reflect the impact of project exits, primarily related to two China coal gasification plants

•Adjusted EPS* of $3.61 exceeded guidance midpoint; adjusted operating income* of $856 million

Guidance

•Fiscal 2027 full-year adjusted EPS guidance* of $14.15 to $14.50; fiscal 2027 first quarter adjusted EPS guidance* of $3.35 to $3.45

•Expect fiscal year 2027 capital expenditures* in the range of $3.0 billion to $3.5 billion

Fiscal 2026 Full-Year Consolidated Results (comparison versus prior year)

LEHIGH VALLEY, Pa. (November 5, 2026) - Air Products (NYSE:APD) today reported full-year fiscal 2026 GAAP results, including operating income of $23 million, operating margin of 0.2 percent, and EPS# of $2.39. This compares with an operating loss of $877 million, operating margin of negative 7.3 percent, and loss per share# of $1.74 in the prior year. Both periods reflect significant charges related to business and asset actions, primarily associated with previously announced project exit decisions. The non-GAAP financial measures discussed below exclude these charges, as well as other items, as described in the "Reconciliations of Non-GAAP Financial Measures" section of this release.

Fiscal 2026 full-year sales of $13.0 billion increased eight percent, or $954 million, on four percent higher volumes, two percent higher energy cost pass-through, and two percent favorable currency.

On a non-GAAP basis, fiscal 2026 full-year adjusted operating income* of $3.2 billion increased 11 percent over the prior year, primarily due to higher on-site volumes, favorable currency, and higher pricing. These benefits were partially offset by higher costs, driven by fixed-cost inflation and higher incentive compensation, partially offset by productivity improvements and lower depreciation. Adjusted operating margin* of 24.4 percent improved 70 basis points. Adjusted EPS* of $13.45 increased 12 percent over the prior year and also benefited from higher equity affiliates' income.

# Per share amounts are calculated and presented on a diluted basis from continuing operations attributable to Air Products.

* Certain results in this release include references to non-GAAP financial measures on a consolidated, continuing operations basis. Additional information regarding these measures and reconciliations of GAAP to non-GAAP historical results can be found below. Management is unable to reconcile, without unreasonable efforts, the Company’s forecasted range of adjusted EPS or capital expenditures to a comparable GAAP range or amount because management is not able to predict the timing or occurrence of events or transactions that management believes are not representative of the Company’s underlying business performance or the timing or occurrence of future investment activity, which are necessary to calculate forward-looking adjusted EPS from continuing operations and capital expenditures, respectively. Refer to the “Capital Expenditures” and “Adjusted EPS Outlook” sections below for additional information.

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Fiscal 2026 Fourth Quarter Consolidated Results (comparison versus prior year)

Air Products also reported fiscal 2026 fourth quarter GAAP results, including operating income of $633 million, operating margin of 17.8 percent, and EPS# of $2.62. This compares with operating income of $17 million, operating margin of 0.5 percent, and EPS# of $0.02 in the fourth quarter of fiscal 2025. Both periods reflect significant business and asset action charges. Prior-year charges included project exit decisions and the initial impairment of two China coal gasification plants. Current-year charges primarily reflect updated estimates associated with the sale process for these plants, including one sold in October 2026. The non-GAAP financial measures discussed below exclude these charges, as well as other items, as described in the

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EX-99.1

2 exhibit99131mar26.htm

EXHIBIT-99.1

Document

Exhibit 99.1

News Release

Air Products Reports Fiscal 2026 Second Quarter Results

Delivered strong underlying performance | Positioned for helium supply chain resilience | New wins in Electronics and Aerospace

Continued focus on key priorities: unlock earnings growth, optimize large projects, maintain capital discipline

Raising fiscal 2026 full-year adjusted EPS guidance*

Q2 FY26 Summary of Results:

•GAAP earnings per share ("EPS")# of $3.19 and GAAP operating income of $753 million, each up over 130% versus prior year

•Adjusted EPS* of $3.20 and adjusted operating income* of $753 million, each up 19 percent versus prior year and exceeding top-end of adjusted EPS* guidance

Guidance

•Raising fiscal 2026 full-year adjusted EPS guidance* to $13.00 to $13.25; fiscal 2026 third quarter adjusted EPS guidance* of $3.25 to $3.35

•Continue to expect fiscal year 2026 capital expenditures* of approximately $4.0 billion

News and Highlights

•Electronics growth: Selected by Samsung to build, own and operate multiple production facilities and bulk specialty gas supply system for new advanced semiconductor fab in South Korea

•Space sector growth: Supplied critical liquid hydrogen and helium for NASA’s historic Artemis II mission; announced plans for new air separation unit in City of Cocoa, Florida

•Helium supply chain resilience: Increasing production in U.S. network to support global customers; drawing from dedicated U.S. helium storage cavern and increasing liquefaction to further strengthen inventory; repositioning portions of large ISO container fleet to help manage supply flows

Fiscal 2026 Second Quarter Consolidated Results (comparison versus prior year)

LEHIGH VALLEY, Pa. (April 30, 2026) - Air Products (NYSE:APD) today reported second quarter fiscal 2026 GAAP operating income of $753 million and GAAP EPS# of $3.19, each up over 130%, and GAAP operating margin of 23.7 percent, compared to negative 79.8 percent in the prior year. This improvement primarily reflects prior-year losses related to charges for business and asset actions. The non-GAAP financial measures discussed below exclude these charges, as well as other prior-year items, as described in the "Reconciliations of Non-GAAP Financial Measures" section beginning on page 8 of this release.

On a non-GAAP basis, second quarter adjusted operating income* of $753 million and adjusted EPS* of $3.20 each increased 19 percent, reflecting higher on-site volumes, favorable currency, and lower costs driven by productivity and lower depreciation, net of fixed-cost inflation and higher Americas maintenance. A pricing headwind driven by helium was partially mitigated by pricing improvements across non-helium product lines. Adjusted operating margin* of 23.7 percent increased from 21.6 percent in the prior year, primarily due to higher volumes and productivity, partially offset by energy cost pass-through and price.

Second quarter sales of $3.2 billion increased nine percent, reflecting four percent higher volumes, four percent favorable currency and two percent higher energy cost pass-through, partially offset by one percent lower pricing.

Commenting on the results, Chief Executive Officer Eduardo Menezes said, "Despite macroeconomic volatility, Air Products delivered 19% growth in adjusted EPS and adjusted operating income improvement across segments. We saw higher on-site volumes and made continued progress on productivity and pricing. We also took actions to strengthen helium supply chain resilience for customers, including drawing from our U.S. storage cavern, increasing U.S. liquefaction, and optimizing our logistics network and container fleet. Looking ahead, we remain focused on our key priorities—unlocking earnings growth, optimizing large projects and maintaining capital discipline."

# Per share amounts are calculated and presented on a diluted basis from continuing operations attributable to Air Products.

* Certain results in this release include references to non-GAAP financial measures on a consolidated, continuing operations basis. Additional information regarding these measures and reconciliations of GAAP to non-GAAP historical results can be found below. Management is unable to reconcile, without unreasonable efforts, the Company’s forecasted range of adjusted EPS or capital expenditures to a comparable GAAP range or amount because management is not able to predict the timing or occurrence of events or transactions that management believes are not representative of the Company’s underlying business performance or the timing or occurrence of future investment activity, which are necessary to calculate forward-looking adjusted EPS from continuing operations and capital expenditures, respectively. Refer to the “Capital Expenditures” and “Adjusted EPS Outlook” sections on pages 10 and 11, respectively, for additional information.

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Fiscal 2026 Second Quarter Re