Air Liquide's Q3 2025 revenue rose 1.9% on a comparable basis, driven by healthcare and industrial gases, despite currency and energy price impacts.

Air Liquide reported third-quarter 2025 revenue of €6.6 billion, a 1.9% increase on a comparable basis, driven by growth in healthcare and industrial merchant gases, despite a 2.4% decline in reported revenue due to currency effects and lower energy prices. The company achieved €163 million in operational efficiencies during the quarter, bringing the year-to-date total to €434 million, a 22.9% year-over-year rise. Air Liquide reaffirmed its 2025 outlook for recurring net income growth and operating margin expansion at constant exchange rates, maintaining its long-term goal of a 460 basis point cumulative margin improvement by 2026.