Air Products has speculated that the worst of the helium downturn for producers may be nearing an end. It is forecasting what it sees as a manageable 4% earnings hit in FY26.
This dent in sales is roughly in line with the impact this year, as the global market adjusts to new supply and storage dynamics following the sale of the federal helium system by the Bureau of Land Management (BLM) to Messer in 2024, and the continued steady supply of Russian helium into those markets without sanctions.
This year’s helium result is actually better than expected for the industrial gas major.
“We had forecasted between a 50 and 55 cent headwind on helium for the full year,” said CFO Melissa Schaefer on an earnings call. “We came in at 49 [cents], so a little bit better than forecasted but not significantly off.”
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