Air Products Q1 adjusted EPS $3.16 beats guidance; maintains FY guide, raises dividend

Air Products & Chemicals, Inc.

2026-Q1 EPS reported $3.04 revenue$3,102,500,000

GAAP EPS $3.04 (+10% YoY); adjusted EPS $3.16 (+10%), above top-end of guidance.
GAAP operating income $735M (+14%); adjusted operating margin 24.4% (+140bps).
Maintains FY2026 adjusted EPS guidance $12.85-$13.15; Q2 guide $2.95-$3.10.
Increased quarterly dividend to $1.81/share, 44th consecutive increase.
Awarded NASA contracts >$140M for liquid hydrogen; advanced Yara negotiations for ammonia projects.

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