Air Products & Chemicals, Inc. - APD STOCK NEWS

Air Products (NYSE: APD) has appointed Sidd Manjeshwar as the new head of Investor Relations, in addition to his existing role as corporate treasurer. This transition follows the planned retirement of Simon Moore in March 2023. Since joining in April 2021, Manjeshwar has supported financial strategies and policy development. He brings extensive experience from his previous roles, including CFO at FirstLight Power, and has a strong academic background in electronics and business. The company, with fiscal 2022 sales of $12.7 billion and a market cap of $55 billion, focuses on industrial gases and sustainable solutions.

Air Products reported fiscal year 2022 results with GAAP EPS of $10.08, up 11%, and GAAP net income of $2.267 billion, a 7% increase. Despite the growth, the net income margin decreased to 17.8%, down 270 basis points. For Q4 FY22, GAAP EPS was $2.56, up 2%, with a net income of $593 million, down 4%. Adjusted EPS was $2.89, a 15% increase. The company announced a dividend increase of 8% and outlined a 2023 adjusted EPS guidance of $11.20 to $11.50, reflecting a 9-12% growth. Investments in sustainable projects are set at $15 billion.

Air Products' COO, Dr. Samir J. Serhan, will keynote at the Hydrogen Transition Summit on Nov. 8, 2022, discussing hydrogen's essential role in the energy transition. He emphasized the need for global collaboration to address climate change. The summit coincides with COP27 in Egypt, where Air Products is a headline sponsor. President Ivo Bols will also speak on energy security at the Sustainable Innovation Forum on Nov. 11, 2022. Air Products has committed $15 billion to clean hydrogen projects, including major facilities in Louisiana and Canada.

Air Products (NYSE: APD) will showcase its sustainable glass melting solutions at the 83rd Conference on Glass Problems from October 31 to November 3 in Columbus, Ohio. The company's Cleanfire HRx technology enhances fuel efficiency and lowers NOx emissions. Additionally, for each event attendee, the Air Products Foundation will donate $100, up to $15,000, to the Ceramic & Glass Industry Foundation. Experts from Air Products will also conduct a technical presentation on hydrogen fuel blending on November 2.

Air Products Qudra, led by Dr. Samir J. Serhan, will participate as a Gold sponsor at ADIPEC 2022 from October 31 to November 3, showcasing its advanced hydrogen technologies. Dr. Serhan is set to speak at the Strategic Hydrogen Conference on October 31 at 12:30 PM GST, emphasizing the company's commitment to investing billions in low-carbon hydrogen projects globally. The newly launched Decarbonization Zone will serve as a platform for discussing low-carbon technologies. Air Products generated $10.3 billion in sales in fiscal 2021, and its current market capitalization is about $55 billion.

Trane Technologies (NYSE: TT) has appointed Mark George and Melissa Schaeffer to its Board of Directors, enhancing its strategic and financial oversight. Mark George, EVP and CFO of Norfolk Southern Corporation, brings over 30 years of experience in financial and business development. Melissa Schaeffer, CFO of Air Products and Chemicals, has extensive leadership experience in finance and risk management. Their appointments aim to strengthen Trane's commitment to innovative and sustainable climate solutions.

Air Products (NYSE: APD) plans to invest approximately $500 million in a new green liquid hydrogen production facility in Massena, New York, targeting a 2026-2027 operational start. This investment is supported by a 94 MW hydroelectric power allocation approved by the New York Power Authority, which aims to create 90 jobs. The facility will produce 35 metric tons per day of hydrogen, aimed primarily at the mobility market, which is expected to avoid over six million tonnes of CO₂ emissions. Demand for green hydrogen is projected to grow significantly in the region.

Air Products' Chairman, Seifi Ghasemi, will address the global hydrogen economy at the Hydrogen Americas Summit in Washington, D.C., on October 10, 2022. Ghasemi emphasized hydrogen's crucial role in achieving a sustainable energy future, citing the company's commitment of over $15 billion to clean energy projects by 2027. The summit, hosted by the Sustainable Energy Council and U.S. Department of Energy, focuses on clean hydrogen opportunities. Eric Guter, Global VP for Hydrogen Mobility, will also speak on decarbonization strategies. National Hydrogen & Fuel Cell Day is observed on October 8.