APD Filings — Air Products and Chemicals, Inc. - FilingSpy
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Air Products and Chemicals, Inc.
One of the world's largest industrial gas makers, Air Products produces oxygen, nitrogen, argon, hydrogen, and helium used in refineries, electronics, medicine, and food. Founder Leonard Parker Pool started it in Detroit in 1940 with a then-radical idea: build oxygen plants right at the customer's site instead of shipping heavy tanks, which is how the company got its name — turning free air into a suite of valuable "products." During World War II it made mobile oxygen generators for high-altitude military flights, and today it is behind massive clean-hydrogen projects like Saudi Arabia's NEOM.
Air Products reports Q3 FY2026 GAAP loss per share of $6.47, adjusted EPS of $3.47
GAAP operating loss of $2.1 billion and loss per share of $6.47, driven by charges for business and asset actions announced June 30, 2026.
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Adjusted EPS of $3.47, exceeding top-end of guidance, and adjusted operating income of $810 million.
Raising fiscal 2026 full-year adjusted EPS guidance to $13.39-$13.49; Q4 adjusted EPS guidance of $3.55-$3.65.
Now expects fiscal 2026 capital expenditures of approximately $3.5 billion.
Announced decision to not proceed with Louisiana Clean Energy Complex and discontinue zero-carbon liquid hydrogen facility in Arizona (Casa Grande) and other smaller-scale clean energy distribution projects.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Air Products to exit Louisiana Clean Energy Complex and other clean energy projects, recording up to $2.9B pre-tax charge.
The company expects to record a pre-tax charge of up to $2.9 billion (approximately $2.2 billion after-tax) in its fiscal 2026 third quarter.
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On June 26, 2026, Air Products decided to exit the Louisiana Clean Energy Complex, the Casa Grande Project, and other smaller clean energy distribution projects.
Cash expenditures related to the charges are estimated not to exceed $925 million, though final settlements may lower this amount.
The exits were driven by expected financial returns not meeting return criteria, challenging commercial conditions, and slower-than-expected hydrogen mobility market development.
Air Products is finalizing a marketing and distribution agreement with Yara International for renewable ammonia from the NEOM Green Hydrogen Project in Saudi Arabia.
2.06 Material Impairments · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Air Products reports Q2 FY2026 adjusted EPS of $3.20, up 19%, and raises full-year guidance to $13.00-$13.25.
GAAP EPS of $3.19 and GAAP operating income of $753 million, each up over 130% versus prior year.
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Adjusted EPS of $3.20 and adjusted operating income of $753 million, each up 19% versus prior year, exceeding top-end of adjusted EPS guidance.
Sales of $3.2 billion increased 9% on higher volumes, favorable currency, and energy cost pass-through, partially offset by lower pricing.
Raising fiscal 2026 full-year adjusted EPS guidance to $13.00-$13.25; Q3 FY2026 adjusted EPS guidance of $3.25-$3.35.
Selected by Samsung to build, own, and operate production facilities and bulk specialty gas supply system for a new advanced semiconductor fab in South Korea.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Air Products shareholders elect 10 directors and approve executive compensation and auditor ratification at 2026 annual meeting.
Air Products and Chemicals, Inc. held its 2026 Annual Meeting of Shareholders on January 28, 2026, with 202,627,255 shares represented (91.03% of entitled shares), constituting a quorum.
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All 10 director nominees were elected, including Tonit M. Calaway, Andrew W. Evans, Jessica Trocchi Graziano, Paul C. Hilal, Eduardo Menezes, Bhavesh V. Patel, Dennis H. Reilley, Wayne T. Smith, Alfred Stern, and Howard Ungerleider.
The advisory vote on executive officer compensation was approved with 180,121,816 votes for (96.25% of votes cast).
Shareholders ratified the appointment of Deloitte & Touche LLP as independent auditor for fiscal year ending September 30, 2026, with 201,791,258 votes for (99.68% of votes cast).
The report was filed under Item 5.07 to disclose the final voting results of matters submitted to a shareholder vote.
5.07 Submission of Matters to a Vote of Security Holders
Air Products director Lisa A. Davis to retire from board after 2026 annual meeting
Davis cited personal reasons for her decision, and the company stated there are no disagreements with her regarding operations, policies, or practices.
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Lisa A. Davis notified Air Products on November 23, 2025, that she will not stand for re-election at the 2026 Annual Meeting of Shareholders.
She will retire from the Board at the conclusion of the Annual Meeting, scheduled for January 28, 2026.
She has served as a director since 2020 and will continue as Chair of the Management Development and Compensation Committee and a member of the Corporate Governance and Nominating Committee until the Annual Meeting.
The company issued a press release on November 25, 2025, announcing her decision.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 8.01 Other Events · 9.01 Financial Statements and Exhibits
Air Products reports FY2025 adjusted EPS of $12.03, exceeding guidance midpoint
Fiscal 2025 full-year GAAP loss per share of $1.74 and operating loss of $877 million, including $3.7 billion pre-tax charges for business and asset actions.
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Fiscal 2025 full-year adjusted EPS of $12.03 and adjusted operating income of $2.9 billion, both down 3% from prior year.
Q4 FY2025 GAAP EPS of $0.02 and operating income of $17 million; adjusted EPS of $3.39 and adjusted operating income of $812 million.
Fiscal 2026 full-year adjusted EPS guidance of $12.85 to $13.15; Q1 FY2026 adjusted EPS guidance of $2.95 to $3.10.
Fiscal 2026 capital expenditures expected to be approximately $4 billion.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Air Products elects Howard Ungerleider to its board, effective September 1, 2025.
He will serve as a member of the Audit and Finance Committee, also effective September 1, 2025.
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Howard Ungerleider, 56, was elected as a director of Air Products and Chemicals, Inc., effective September 1, 2025.
Ungerleider is an Operating Advisor at Clayton, Dubilier & Rice and previously served as President (2018-2023) and CFO (2014-2023) of Dow Inc.
The Board determined he qualifies as an independent director under NYSE listing standards and the Company's Corporate Governance Guidelines.
He will receive compensation and indemnification consistent with the Company's standard arrangements for non-employee directors.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits