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Air Products and Chemicals APD Q2 2026 earnings

Reported April 30, 2026 · Before market open

Revenue$3.2BBeat by $102.0MDiluted EPS$3.20Beat by $0.14
Revenue estimate$3.1B
EPS estimate$3.06

Next report

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

Financials

Q2 2026

Income statement

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Revenue$3.2B+8.8%
Gross profit$987.4M+14.5%
Operating income$752.7M+132%
Net income$710.4M+141%
EPS (diluted)$3.19+141%

Balance sheet

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Cash & equivalents$951.0M-36.2%
Total debt$914.5M-35.2%
Total equity$15.6B+6.4%
Total assets$41.6B+7.1%

Cash flow

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Operating cash flow$1.1B+236%
CapEx$1.1B-41.4%
Free cash flow-$3.9M+99.8%

Valuation & ratios

Valuation

as of 07/09/26
See full
Market cap$66.08B-1.4%
Enterprise value$66.04B-1.4%
P/E31.4×-12.3×
P/S5.3×-0.3×

Profitability

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Gross margin32%0.0pp
Operating margin18.3%+6.0pp
Net margin16.9%+4.1pp
FCF margin-10%-4.2pp

Returns & leverage

See full
Return on equity13.9%+3.5pp
Debt / equity0.1×0.0×
Current ratio1.4×+0.4×

Segments

By segment

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Americas$1.4B+7.5%
Asia$832.6M+7.6%
Europe$789.0M+8.5%
Corporate And Other$137.1M+44.8%

By product

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Onsite$1.7B+10.3%
Merchant$1.3B+4.3%
Saleof Equipment$137.1M+44.8%

Versus estimates

Revenue

Q2 2026$3.2BBeat by $102.0M
Q1 2026$3.1BBeat by $51.1MQ4 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 $0.12Q4 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 Q2 2026 earnings?
Air Products and Chemicals (APD) reported Q2 2026 earnings on April 30, 2026 before market open.
What were Air Products and Chemicals's Q2 2026 revenue and EPS?
Air Products and Chemicals reported revenue of $3.2B and diluted EPS of $3.20 for Q2 2026.
Did Air Products and Chemicals beat estimates in Q2 2026?
Revenue beat the consensus estimate of $3.1B by $102.0M. EPS beat the consensus estimate of $3.06 by $0.14.
How did Air Products and Chemicals's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 8.8% from $2.9B a year earlier and diluted EPS grew 19.0% from $2.69.
Where can I find Air Products and Chemicals's Q2 2026 SEC filings?
You can read the 8-K earnings release (0000002969-26-000018) and the 10-Q periodic report (0000002969-26-000020) directly on SEC EDGAR. The filing index links above go to sec.gov.