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Air Products and Chemicals APD Q1 2026 earnings

Reported January 30, 2026 · Before market open

Revenue$3.1BBeat by $51.1MDiluted EPS$3.16Beat by $0.12
Revenue estimate$3.1B
EPS estimate$3.04

Next report

Jul 30, 2026 (In 2 weeks)
Revenue estimate$3.2B
EPS estimate$3.35

Financials

Q1 2026

Income statement

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Revenue$3.1B+5.8%
Gross profit$995.0M+8.7%
Operating income$734.5M+14.1%
Net income$678.2M+9.8%
EPS (diluted)$3.04+9.7%

Balance sheet

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Cash & equivalents$1.0B-44.4%
Total debt$673.7M-6.9%
Total equity$15.4B-7.7%
Total assets$41.2B+3.1%

Cash flow

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Operating cash flow$900.7M+11.0%
CapEx$1.3B-40.9%
Free cash flow-$350.5M+73.2%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$54.98B-14.8%
Enterprise value$54.63B-13.8%
P/S4.5×-0.9×

Profitability

See full
Gross margin31.6%-0.9pp
Operating margin-6.6%-43.5pp
Net margin-2.8%-34.7pp
FCF margin-23%-4.4pp

Returns & leverage

See full
Return on equity-2.1%-26.4pp
Debt / equity0×0.0×
Current ratio1.5×+0.3×

Segments

By segment

See full
Americas$1.3B+4.2%
Asia$831.5M+1.8%
Europe$782.0M+12.2%
Corporate And Other$117.0M+20.9%

By product

See full
Onsite$1.6B+9.8%
Merchant$1.4B+0.4%
Saleof Equipment$117.0M+20.9%

Versus estimates

Revenue

Q2 2026$3.2BBeat by $102.0M
Q1 2026$3.1BBeat by $51.1M
Q4 2025$3.2BMiss by $9.3MQ3 2025$3.0BBeat by $34.2MQ2 2025$2.9BMiss by $2.4MQ1 2025$2.9BMiss by $19.6M

Diluted EPS

Q2 2026$3.20Beat by $0.14
Q1 2026$3.16Beat by $0.12
Q4 2025$3.39Beat by $0.01Q3 2025$3.09Beat by $0.10Q2 2025$2.69Miss by $0.14Q1 2025$2.86Miss by $0.27

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Questions, answered.

When did Air Products and Chemicals report Q1 2026 earnings?
Air Products and Chemicals (APD) reported Q1 2026 earnings on January 30, 2026 before market open.
What were Air Products and Chemicals's Q1 2026 revenue and EPS?
Air Products and Chemicals reported revenue of $3.1B and diluted EPS of $3.16 for Q1 2026.
Did Air Products and Chemicals beat estimates in Q1 2026?
Revenue beat the consensus estimate of $3.1B by $51.1M. EPS beat the consensus estimate of $3.04 by $0.12.
How did Air Products and Chemicals's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 5.8% from $2.9B a year earlier and diluted EPS grew 10.5% from $2.86.
Where can I find Air Products and Chemicals's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001193125-26-029381) and the 10-Q periodic report (0000002969-26-000008) directly on SEC EDGAR. The filing index links above go to sec.gov.