APD Air Products
Q4 2025 10-Q
Air Products (APD) 10-Q quarterly report for Q4 2025, filed with SEC EDGAR on Jan 30, 2026 for the fiscal period ending Dec 31, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
AI Filing AnalysisQ4 2025 10-Q
Management Discussion & Analysis
- • Revenue $3.10B, up 6% YoY ($171M increase) driven by 3% energy cost pass-through, 2% currency, and 1% price; volumes flat YoY
- • Operating income $734.5M, up 14% YoY ($90.9M increase); operating margin 23.7% vs 22.0% YoY (170 bp increase); adjusted margin 24.4% vs 23.0% YoY (140 bp increase)
Risk Factors
- • New risk factor: Ongoing SEC climate-related disclosure rules litigation triggers regulatory uncertainty due to indefinite abeyance as of Dec 2025
- • Most materially updated risk: Project exit charges of $28.3M in Q1 FY26 due to strategic review and unfavorable regulatory/commercial conditions
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