Air Products posts FY2025 loss of $1.74 per share on $3.7 billion in charges
Air Products reported a fiscal 2025 GAAP loss of $1.74 per diluted share and an operating loss of $877 million, compared with GAAP earnings of $17.24 per share in fiscal 2024. The results include about $3.7 billion in pre-tax charges for business and asset actions, while adjusted EPS of $12.03 beat the guidance midpoint but fell 3% from the prior year. The company also guided fiscal 2026 adjusted EPS to $12.85 to $13.15 and expects capital expenditures of about $4 billion.
Key points
- Fiscal 2025 sales were $12.0 billion, down 1% from the prior year, with GAAP diluted loss per share of $1.74 versus $17.24 in fiscal 2024
- Pre-tax business and asset action charges were about $3.7 billion ($3.0 billion after tax, or $13.68 per share)
- Adjusted EPS of $12.03 exceeded the guidance midpoint and decreased 3% from the prior year
- Fiscal 2026 adjusted EPS guidance is $12.85 to $13.15; first quarter guidance is $2.95 to $3.10; capital expenditures expected at about $4 billion
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 06, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.