Air Products (APD)
NYSEMaterialsSpecialty ChemicalsSnapshot 2026-07-07
$305.04-1.24%
Close 2026-07-07 · 1-day change
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Track APD free→Warn: Management is running behind on a stated commitment.
Air Products raised full-year EPS guidance to about $13.12. Sales grew 9% last quarter. Capital spending stays near $4 billion. The company expands facilities and grows industrial gas demand.
The company stopped some clean energy projects, which may hurt growth. Litigation risks could add costs. Capital spending discipline is uncertain. Profit growth may slow.
The price is about 10% above our fair value near $279. Analysts expect about 7% revenue growth. Our fair value is below the Street median, so weigh the Street range.
Breaks if: Capital expenditures exceed $4.5 billion in FY26
Air Products continues to expect fiscal year 2026 capital expenditures of approximately $4.0 billion.
Standing thesis, reviewed periodically — not a price target or advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Stated in 4 of last 4 quarters. Air Products maintains its capital expenditure guidance at $4 billion for fiscal 2026. This consistent expectation aligns with their strategic focus on capital discipline. However, the financials do not provide specific updates on capex execution, indicating persistent statement with limited substantive delivery this quarter.
“Air Products continues to expect fiscal year 2026 capital expenditures of approximately $4.0 billion.”
“Air Products expects capital expenditures of approximately $4 billion for full-year fiscal 2026.”
“Expect fiscal year 2025 capital expenditures of approximately $5 billion.”
“Air Products expects capital expenditures of approximately $5 billion for full-year fiscal 2025.”
Breaks if: Adjusted EPS falls below $13.00 in FY26
Air Products raised its fiscal 2026 full-year adjusted EPS guidance to $13.00 to $13.25.
Stated in 3 of last 3 quarters. Air Products raised its fiscal 2026 full-year adjusted EPS guidance to $13.00 to $13.25. The Q1 2026 adjusted EPS was $3.16, up 10% from the prior year, indicating progress towards the guidance. The trajectory shows delivering on the raised guidance.
“Raising fiscal 2026 full-year adjusted EPS guidance to $13.00 to $13.25.”
“Air Products expects full-year fiscal 2026 adjusted EPS guidance in the range of $12.85 to $13.15.”
“Revising fiscal 2025 full-year adjusted EPS guidance to $11.85 to $12.15.”
Breaks if: Revenue growth falls below 5% YoY next year
Air Products raised its fiscal 2026 full-year adjusted EPS guidance to $13.00 to $13.25.
Stated in 3 of last 3 quarters. Air Products raised its fiscal 2026 full-year adjusted EPS guidance to $13.00 to $13.25. The Q1 2026 adjusted EPS was $3.16, up 10% from the prior year, indicating progress towards the guidance. The trajectory shows delivering on the raised guidance.
“Raising fiscal 2026 full-year adjusted EPS guidance to $13.00 to $13.25.”
“Air Products expects full-year fiscal 2026 adjusted EPS guidance in the range of $12.85 to $13.15.”
“Revising fiscal 2025 full-year adjusted EPS guidance to $11.85 to $12.15.”