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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 (NYSE:APD) is set to launch its second annual global Week of Inclusion starting May 9, 2022, promoting diversity and belonging among employees. This initiative supports CEO Action for Diversity and Inclusion, with CEO Seifi Ghasemi aiming for the company to be the most diverse industrial gas firm. The theme for this year is 'Leaning into Empathy,' emphasizing the importance of understanding and sharing emotions in the workplace. Keynote speaker Denise Hamilton will lead discussions, with over 20 sessions planned in five languages. Air Products strives for 28% female and 30% minority representation by 2025.
Air Products reported Q2 FY22 results with a GAAP EPS of $2.38, reflecting a 12% increase year-over-year, and a net income of $537 million, rising 13%. Sales reached $2.9 billion, up 18%, driven by higher volumes and pricing. Adjusted EBITDA stood at $1,019 million, up 9%. The company announced major investments, including a $2 billion project for Sustainable Aviation Fuel. Full-year adjusted EPS guidance remains at $10.20 to $10.40, indicating a 13-15% growth over the previous year.
Air Products (NYSE: APD) has partnered with Schenk Tanktransport and TNO on the Clean Hydrogen and Road Transport Project (CH2aRT) to develop hydrogen trucks and a hydrogen refuelling station in Rotterdam. Supported by a subsidy from the Dutch Ministry of Infrastructure, this initiative aims to enhance the use of hydrogen in heavy-duty transport. The project will initially support three zero-emission trucks and is aligned with the HyTrucks consortium's goal of deploying 1,000 hydrogen-powered trucks by 2025. The collaboration underscores Air Products' role as a leader in hydrogen production.
Air Products (NYSE: APD) has successfully launched two new air separation units as part of its long-term agreements to supply ultra-high purity gases to a major semiconductor manufacturer in Asia. The company is investing approximately $400 million to support this project in Tainan Science Park, Southern Taiwan. Air Products has over 40 years of experience serving the global electronics industry and has established a strong supply position in Taiwan, supported by a significant nitrogen pipeline.
Air Products San Fu has announced a significant investment of $900 million to build ultra-high purity industrial gas facilities in Kaohsiung, Taiwan, supporting a major semiconductor manufacturer. This project will enhance the supply of nitrogen, oxygen, argon, and hydrogen to advanced fabs, demonstrating the company's commitment to growth and reliability in the electronics sector. With over 40 years of experience in the global electronics market, Air Products aims to meet increasing demands in semiconductor manufacturing, further solidifying its position as a leading integrated gases supplier.
Air Products CEO, Seifi Ghasemi, will receive the CME STEM Leadership Award for Lifetime Achievement on December 7, 2022. The award recognizes his visionary leadership and commitment to fostering STEM talent, which has contributed significantly to financial growth and an inclusive work culture at Air Products. Ghasemi's leadership has supported pioneering strategies in areas such as gasification and carbon capture. The event will feature a keynote address by NASA's Chief Scientist, Katherine Calvin, highlighting the importance of STEM programs in addressing global challenges.
Air Products (NYSE: APD) announced a $2 billion expansion at World Energy's Sustainable Aviation Fuel (SAF) production hub in Paramount, California, the world's first commercial-scale SAF facility. This project will increase capacity to 340 million gallons annually and includes a new hydrogen plant. Scheduled for operation by 2025, it aims to support energy transition with low-carbon solutions. The SAF produced will reduce carbon emissions by up to 80% compared to conventional jet fuel, aligning with California's decarbonization goals.
Air Products (NYSE:APD) will showcase its net-zero hydrogen energy complex and hydrogen mobility solutions at the Canadian Hydrogen Convention on April 26, 2022. CEO Seifi Ghasemi will present on the role of hydrogen in energy transition. The company is investing in a $1.3 billion CAD facility in Edmonton, expected to be operational in 2024, to establish a competitive hydrogen network. Air Products aims to leverage Canada's natural resources and skilled workforce to lead in clean energy initiatives, enhancing its position as the world's largest hydrogen producer.
Air Products (NYSE:APD) has announced its acquisition of Air Liquide's industrial gases business in the UAE, including liquid bulk, packaged gases, and specialty gases, as well as a majority stake in Middle East Carbon Dioxide W.L.L in Bahrain. This strategic move aims to enhance Air Products' footprint in the Middle East, strengthen product sourcing, and improve service reliability. Financial terms of the deal remain undisclosed.
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