Filing Flows › Air Products & Chemicals (APD) › Q2 FY26
Air Products & Chemicals (APD) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Apr 30, 2026
Air Products & Chemicals (APD) reported revenue of $3.2B for the second quarter fiscal 2026 (Q2 FY26), +9% from a year earlier and +2% from the quarter before. Operating margin was 23.7%, net earnings $710M (22.4% of revenue).
Air Products & Chemicals, Q2 FY26: revenue $3.2B (+9% year over year), operating margin 23.7%, net earnings $710M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.2B | +2% | +9% |
| Operating profit | $753M | +2% | — |
| Net earnings | $710M | +5% | — |
| Operating cash flow | $1.1B | +23% | +236% |
What changed
Revenue was $3.2B in Q2 FY26, up 9% year over year and up 2% from the previous quarter.
Operating profit was $0.75B, a 23.7% margin (up 103.6 points year over year). Total costs fell 54% while revenue rose 9%. Net earnings were $0.71B. The effective tax rate was 18.0%.
Operating cash flow was $1.1B (up 236% year over year), 152% of net earnings. Non-cash charges added back $0.38B of depreciation and amortization and $0.02B of share-based compensation. Capital expenditures of $1.1B exceeded it, leaving free cash flow of −$3.9M.
Questions
What was Air Products & Chemicals' revenue in the second quarter fiscal 2026?
Air Products & Chemicals (APD) reported revenue of $3.2B for the second quarter fiscal 2026 (Q2 FY26), +9% from a year earlier and +2% from the quarter before.
Was Air Products & Chemicals profitable in the second quarter fiscal 2026?
Operating profit was $753M (23.7% of revenue) and net earnings $710M.