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Air Products & Chemicals, Inc. (NYSE: APD) is a world-leading industrial gases company that has been making a positive impact on lives globally since its establishment in 1940. With over 20,000 employees and operations in more than 50 countries, Air Products provides essential services to a wide array of industries from food and beverage, healthcare, and personal care, to energy, transportation, and semiconductors.
Core Business: Air Products specializes in supplying atmospheric gases, process and specialty gases, performance materials, and related equipment and services. It is recognized as the largest supplier of hydrogen and helium worldwide.
Financial Performance: In fiscal 2023, Air Products generated $12.6 billion in revenue. The company continues to show strong financial health, reporting a GAAP EPS of $2.57 in Q2 FY24, a 30% increase from the previous year, and an adjusted EPS of $2.85, up 4% from the prior year.
Innovative Projects and Achievements: Air Products has been actively investing in sustainable projects. The company plans to invest $15 billion in clean energy projects by 2027. Recent developments include the successful performance test of its AP-DMR™ LNG Process technology in Mozambique and plans to build multi-modal hydrogen refueling stations across California and Canada.
Partnerships: Air Products has formed strategic alliances to enhance its service offerings. Notably, it has a 15-year agreement with TotalEnergies to supply 70,000 tons of green hydrogen annually starting in 2030, significantly reducing CO2 emissions.
Community and Sustainability: The company has been listed among Barron's 100 Most Sustainable Companies for six consecutive years. Air Products’ dedication extends to community engagement, exemplified by its donation pledge to the AIST Foundation to promote careers in the steel industry.
For more information, visit Air Products' official website.
Air Products reported Q3 FY22 results with a GAAP EPS of $2.62, an 11% increase year-over-year, and GAAP net income of $587 million, up 10%. Sales reached $3.2 billion, a 22% increase, driven by higher pricing and volumes, despite challenges like inflation and unfavorable currency. The adjusted EBITDA was $1,081 million, up 11%, while the adjusted EBITDA margin declined to 33.9%. The company maintains its FY22 adjusted EPS guidance of $10.20 to $10.40 and capital expenditures exceeding $4.5 billion.
Dr. Mary Haas has been appointed as the CEO of Sustaera, effective immediately. She brings nearly 20 years of experience from Air Products and Chemicals (APD), where she significantly boosted the Global Equipment Division's EBITDA by over 150% in four years. Dr. Haas aims to advance Sustaera's Direct Air Capture technology targeting the removal of 500 million tons of CO2 by 2040. Her leadership is expected to enhance Sustaera’s growth trajectory and innovation while collaborating on multiple direct air capture plants globally.
Air Products (NYSE: APD) has announced significant sustainability commitments, including a new goal to reduce Scope 3 CO2 emissions intensity by one-third by 2030, and a pledge to achieve net-zero carbon emissions by 2050. The company will invest at least $4 billion in clean energy initiatives over the next five years, increasing its total commitment to $15 billion by 2027. This strategy aims to enhance environmental benefits while supporting customers in their sustainability efforts, with a focus on hydrogen and carbon capture technologies.
The Board of Directors of Air Products (NYSE: APD) declared a quarterly dividend of $1.62 per share, payable on November 14, 2022 to shareholders on record as of October 3, 2022. The company generated $10.3 billion in fiscal 2021 sales, operating in over 50 countries, with a market capitalization of approximately $55 billion. Air Products specializes in industrial gases, serving various sectors including energy, chemicals, and more, while leading in liquefied natural gas technology.
Air Products (NYSE:APD) and VPI have entered into a joint development agreement to create the Humber Hydrogen Hub (H3) in Immingham, UK. This initiative targets an 800MW low-carbon hydrogen production facility aimed at decarbonizing VPI's existing power operations. The facility plans to capture up to two million tonnes of CO2 annually, contributing to Net Zero goals by 2040. The project also seeks funding under the UK Government's Net Zero Hydrogen Fund to bolster hydrogen production initiatives, potentially generating hundreds of jobs during its construction and operation.
Air Products (NYSE: APD) is set to release its fiscal 2022 third quarter financial results on August 4, 2022, before market opening. The company will host a teleconference at 8:30 a.m. ET for public and media access. Information on accessing the live event and replay options is provided, including a dedicated teleconference number and internet broadcast. With fiscal 2021 sales at $10.3 billion and a market cap of approximately $55 billion, Air Products continues to lead in industrial gases and sustainable energy solutions.
Air Products (NYSE:APD) and Gunvor Petroleum Rotterdam have entered a joint development agreement for a green hydrogen import terminal in Rotterdam, expected to be operational by 2026. This initiative addresses the growing demand for renewable energy sources and supports the EU's climate objectives. The project is projected to generate EUR 260-425 million in indirect economic benefits, creating thousands of jobs. The companies aim to establish regulatory frameworks and funding support to ensure the project's success and integration into the EU's renewable energy targets.
Air Products (NYSE: APD) will exhibit its innovative industrial gas solutions for the agrochemical and specialty chemical sectors at Specialty & Agro Chemicals America from June 28-30, 2022, in Charleston, SC. Attendees can visit booth #937 to consult with experts on applications including inerting, hydrogenation, and water treatment. The company emphasizes its commitment to innovation through advanced testing labs in Allentown, PA. With over 80 years in the industry, Air Products reported $10.3 billion in sales for fiscal 2021 and has a market cap of approximately $55 billion.
Air Products (NYSE: APD) will showcase its hydrogen for mobility solutions at the VerdeXchange VX2022 Marketmakers' Conference in Los Angeles on June 21. Eric Guter, Global VP – Hydrogen for Mobility, will discuss the environmental benefits of hydrogen in port operations, highlighting its role in reducing traditional fuel use. With over 60 years of experience and involvement in more than 250 hydrogen projects worldwide, Air Products emphasizes the transition to cleaner energy. The company generated $10.3 billion in fiscal 2021 and holds a market capitalization of approximately $55 billion.
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