Air Products and Chemicals Inc (NYSE:APD) reported fiscal second-quarter 2026 results, posting strong earnings growth.
The company raised full-year guidance, citing operational momentum and continued macro uncertainty.
Earnings Beat, Margin Expansion
The company reported fiscal second-quarter 2026 GAAP EPS of $3.19 and adjusted EPS of $3.20. Adjusted EPS beat the $3.06 estimate, while sales of $3.171 billion topped the $3.067 billion estimate.
Sales increased 9% year over year, driven by higher volumes, favorable currency, and energy cost pass-through, partly offset by lower pricing.
GAAP operating income rose to $753 million, up more than 130% from a year earlier, primarily reflecting prior-year business and asset action charges.
Adjusted operating income rose 19% to $753 million. Adjusted operating margin improved to 23.7% from 21.6%, supported by higher on-site volumes, productivity gains and favorable currency.
Helium pricing remained a headwind, partly offset by improvements across non-helium product lines.
Segment Performance
Americas sales rose 8% to $1.4 billion, with operating income up …