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Air Products stock lags on clean-energy spending and helium pricing
APD reported Q3 revenue of $3.2 billion, and analysts expect full-year diluted EPS of $13.45 after an adjusted EPS gain in the quarter.
Air Products and Chemicals has lagged the broader market over the past year, even as the stock is up year to date, according to Yahoo Finance. The company’s shares rose 3.6% over the past 12 months versus nearly 20.1% for the S&P 500, while 2026 performance has been stronger, with APD up 21.8% compared with the index’s 13.1% gain.
The underperformance is tied to a shift toward cleaner energy and related costs, including heavy capital expenditure and multi-billion-dollar project exit charges, as well as top-line pricing headwinds. Investor sentiment has also been weighed by persistent pricing pressure in helium, as lower global helium prices across the Americas, Asia, and Europe weighed on operating margins.
Operationally, Yahoo Finance notes that higher underlying volumes, productivity gains, and favorable currency moves provided support, and that APD delivered “core operational beats” despite the helium backdrop. On July 30, the stock closed up more than 2% after APD reported Q3 results, with revenue rising to $3.2 billion, up 4.6% year over year.
For the quarter, adjusted EPS increased 12.3% to $3.47, and analysts expect full-year diluted EPS to grow 11.8% to $13.45 for the fiscal year ending in September. Yahoo Finance also said APD’s earnings surprise record has been mixed, with the company beating consensus in three of the last four quarters while missing once.
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