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Air Products and Chemicals APD Q2 2025 earnings

Reported May 1, 2025 · Before market open

Revenue$2.9BMiss by $2.4M
EPS$2.69Miss by $0.14
Revenue estimate$2.9B
EPS estimate$2.83

Next report

Nov 5, 2026 (in 2 months)
Revenue estimate$3.3B
EPS estimate$3.60

Financials

Q2 2025

Income statement

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Revenue$2.9B-0.5%
Gross profit$862.3M-8.1%
Operating income-$2.3B-465%
Net income-$1.7B-402%
EPS (diluted)-$7.77-402%

Balance sheet

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Cash & equivalents$1.5B-41.2%
Total debt$1.4B+68.7%
Total equity$14.7B-1.4%
Total assets$38.9B+8.2%

Cash flow

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Operating cash flow$328.1M-59.1%
CapEx$1.9B+13.3%
Free cash flow-$1.6B-80.2%

Valuation & ratios

Valuation

as of 03/31/25
See full
Market cap$65.61B+21.8%
Enterprise value$65.53B+25.6%
P/E42.8×+21.0×
P/S5.5×+1.0×

Profitability

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Gross margin31.9%+0.5pp
Operating margin12.3%-9.8pp
Net margin12.8%-7.6pp
FCF margin-36%+72.9pp

Returns & leverage

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Return on equity10.4%-6.7pp
Debt / equity0.1×0.0×
Current ratio1×-0.5×

Segments

By segment

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Americas$1.3B+3.3%
Asia$774.1M-0.7%
Europe$727.4M+8.9%
Corporate And Other$94.7M-52.9%

By product

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Onsite$1.6B+10.5%
Merchant$1.3B-4.2%
Saleof Equipment$94.7M-52.9%

By geography

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Other foreign operations$1.4B+3.4%

FAQ

When did Air Products and Chemicals report Q2 2025 earnings?
Air Products and Chemicals (APD) reported Q2 2025 earnings on May 1, 2025 before market open.
What were Air Products and Chemicals's Q2 2025 revenue and EPS?
Air Products and Chemicals reported revenue of $2.9B and eps of $2.69 for Q2 2025.
Did Air Products and Chemicals beat estimates in Q2 2025?
Revenue missed the consensus estimate of $2.9B by $2.4M. EPS missed the consensus estimate of $2.83 by $0.14.
How did Air Products and Chemicals's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 0.5% from $2.9B a year earlier and eps declined 5.6% from $2.85.
Where can I find Air Products and Chemicals's Q2 2025 SEC filings?
You can read the 8-K earnings release (0000002969-25-000025) and the 10-Q periodic report (0000002969-25-000027) directly on SEC EDGAR. The filing index links above go to sec.gov.