The Lehigh Valley-based industrial gas provider posted a loss per share of $6.47 for the quarter ending June 30. These results include the impact of abandoning the Louisiana Clean Energy Complex and a zero-carbon liquid hydrogen facility in Casa Grande, Arizona. Excluding these non-recurring charges, the company reported adjusted operating income of $810 million, a nine percent increase attributed to higher volumes and favorable pricing.
Air Products Posts $2.1 Billion Loss Following Clean Energy Exit
Air Products reported a $2.1 billion operating loss for the third quarter of fiscal 2026, a sharp downturn driven by $2.9 billion in charges tied to the cancellation of major clean energy projects in Louisiana and Arizona. Despite the GAAP loss, the company exceeded adjusted earnings expectations.
CEO Eduardo Menezes emphasized that the company is shifting its focus back toward profitable, traditional industrial gas projects to streamline its portfolio. Air Products raised its full-year fiscal 2026 adjusted EPS guidance to a range of $13.39 to $13.49. While the company remains cautious regarding macroeconomic volatility, it continues to expand its footprint in the semiconductor sector, recently securing a long-term agreement to support manufacturing growth in Taiwan.
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