Filing Flows › Air Products & Chemicals (APD) › Q3 FY25
Air Products & Chemicals (APD) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Jul 31, 2025
Air Products & Chemicals (APD) reported revenue of $3.0B for the third quarter fiscal 2025 (Q3 FY25), +1% from a year earlier and +4% from the quarter before. Operating margin was 26.2%, net earnings $714M (23.6% of revenue).
Air Products & Chemicals, Q3 FY25: revenue $3.0B (+1% year over year), operating margin 26.2%, net earnings $714M, operating cash flow $856M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0B | +4% | +1% |
| Operating profit | $791M | — | +7% |
| Net earnings | $714M | — | +2% |
| Operating cash flow | $856M | +161% | -32% |
What changed
Revenue was $3.0B in Q3 FY25, up 1% year over year and up 4% from the previous quarter.
Operating profit was $0.79B, a 26.2% margin (up 1.4 points year over year). Of the extra revenue versus a year earlier, 142% reached operating profit, above the 25% margin then. Total costs fell 1% while revenue rose 1%. Net earnings were $0.71B, up 2% year over year. The effective tax rate was 18.1%.
Operating cash flow was $0.86B (down 32% year over year), 118% of net earnings. Non-cash charges added back $0.40B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.28B. Capital expenditures of $1.5B exceeded it, leaving free cash flow of −$0.64B.
Questions
What was Air Products & Chemicals' revenue in the third quarter fiscal 2025?
Air Products & Chemicals (APD) reported revenue of $3.0B for the third quarter fiscal 2025 (Q3 FY25), +1% from a year earlier and +4% from the quarter before.
Was Air Products & Chemicals profitable in the third quarter fiscal 2025?
Operating profit was $791M (26.2% of revenue) and net earnings $714M.