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19 min ago 2 min read
Industrial gases major Air Products reported higher quarterly sales and adjusted earnings in fiscal Q2 2026 but said a sharp rise in reported profits was driven largely by prior-year charges.
For the quarter, sales rose 9% to $3.2bn and adjusted EPS increased 19%, while GAAP EPS climbed more than 130% to $3.19.
Air Products said sales growth reflected 4% higher volumes, 4% favourable currency, and 2% higher energy cost pass-through, partially offset by 1% lower pricing.
CEO Eduardo Menezes noted higher on-site volumes for the quarter.
He said the company also took actions to strengthen helium supply, including drawing from its US storage cavern, located in Texas.
The company also flagged a pricing headwind driven by helium, partially mitigated by pricing improvements across non-helium product lines.
In the past week, Air Products has announced plans for a (ASU) in Florida, in South Korea, and said it is exploring gas-to-chemicals and .
The company reported growth in each market segment, with Americas, Asia, and Europe sales each up 8%.
In the Americas, volumes were up for both on-site and merchant projects, including helium. The company said this was partially offset by income from a “favourable one-time customer contract” amendment in the prior year.
It also said that pricing was lower despite improvements across non-helium product lines, mitigating higher power costs.
Operating income in Asia totalled $240m, a 25% increase, as reduced depreciation due to certain gasification assets being classified as held for sale, productivity improvements, higher on-site and helium volumes, and favourable currency were partially offset by weaker helium pricing.
In Europe, Air Products also reported higher volumes, favourable currency, and pricing benefits from non-helium, products and lower power costs, which were partially offset by higher costs, including depreciation and fixed-cost inflation.
