Air Products & Chemicals, Inc. - APD STOCK NEWS

Air Products (NYSE:APD) will present its advanced liquefied natural gas (LNG) technologies at the Gastech Conference and Exhibition from September 21-23 in Dubai. The company will showcase its equipment and innovations that support the successful operation of LNG facilities. Notably, Rotoflow will highlight new hydraulic turbine advancements. Air Products will also participate in several technical presentations on increasing LNG efficiency and decarbonized production. The company is a global leader in LNG technology, with a reported fiscal 2020 sales of $8.9 billion and a market capitalization of about $60 billion.

Air Products (NYSE: APD) will implement price increases effective October 1, 2021, affecting liquid nitrogen, liquid oxygen, and liquid carbon dioxide, with hikes of up to 20% and 15% respectively. Monthly service charges will increase by a similar 15%. Additional adjustments for helium, hydrogen, and argon will be determined based on supply and demand. The company cites rising sourcing, production, and delivery costs as the reason for these changes, aimed at maintaining investments in reliability and safety.

Air Products (NYSE:APD) announced the departure of Susan K. Carter from its Board of Directors effective September 30, 2021, after 10 years of service. Ms. Carter, a member of both the Audit and Finance Committee and the Management Development and Compensation Committee, has extensive experience in finance and operations. CEO Seifi Ghasemi expressed gratitude for her contributions, highlighting her expertise in various domains, including acquisitions and corporate governance. Air Products, with a market capitalization of about $60 billion, focuses on providing industrial gases and solutions for energy and environmental needs.

Air Products (NYSE:APD) will showcase its hydrogen solutions for heavy-duty transportation at the Advanced Clean Transportation Expo from August 31 to September 1 in Long Beach, California. The company plans to convert its global fleet of 2,000 trucks to hydrogen fuel cell vehicles, collaborating with Cummins to integrate hydrogen technologies across the Americas, Europe, and Asia. Initial pilot phases are expected to begin in 2022. As a leader in hydrogen production, Air Products operates over 250 fueling stations globally, emphasizing the importance of hydrogen in sustainable transportation.

Air Products (NYSE: APD) has been recognized for the tenth consecutive year on the 100 Best Corporate Citizens List by 3BL Media, reflecting its commitment to environmental, social, and governance (ESG) standards. The ranking assesses 1,000 top U.S. public companies based on 146 ESG factors across various categories, including climate change and employee relations. Air Products continues to drive sustainability, aiming to reduce CO2 emissions intensity by one-third by 2030 from a 2015 baseline, positioning itself as a leader in the industrial gases sector with a market cap exceeding $60 billion.

Air Products (NYSE:APD) has launched its first hydrogen fueling station in Shandong Province, China, supporting the "Hydrogen into Ten Thousand Homes" initiative by the Ministry of Science and Technology. This station, designed for buses and trucks, showcases Air Products' patented technology and signifies a collaboration with local authorities. The project aims to advance hydrogen energy utilization across various sectors. Air Products, with over 60 years in hydrogen, has established a strong presence in China and aims to support the country's decarbonization goals and hydrogen development roadmap.

Air Products (NYSE:APD) reported Q3 FY21 earnings, with GAAP EPS reaching $2.36, a 17 percent increase year-over-year. Net income rose 16 percent to $532 million, while the net income margin decreased to 20.4 percent. Adjusted EPS was $2.31, an increase of 15 percent, but adjusted EBITDA margin fell to 37.5 percent. Key initiatives include a net-zero hydrogen complex in Canada and collaborations with Baker Hughes and Cummins. Fiscal 2021 adjusted EPS guidance is set between $8.95 and $9.05, reflecting an 8 percent growth expectation.

Air Products (NYSE:APD) has secured an agreement with SCD JV S.c.a.r.l to provide main cryogenic heat exchangers and process technology for the Nigeria LNG Train 7 project, aiming to produce 8 million tons of LNG annually. This marks a continuation of a 20-year relationship with NLNG, demonstrating Air Products' strong market position and reliability. Manufacturing will occur at its Port Manatee facility in Florida, with delivery expected in 2023. Air Products' technology is crucial for global LNG production, underpinning operations in over 100 LNG trains across 20 countries.

Air Products (NYSE:APD) and Cummins Inc. have signed a memorandum of understanding to enhance hydrogen fuel cell truck integration across the Americas, Europe, and Asia. Air Products aims to convert its fleet of approximately 2,000 trucks into hydrogen fuel cell vehicles, starting the demonstration phase in 2022. Both companies will collaborate on increasing renewable hydrogen accessibility and infrastructure. Air Products is a leading hydrogen producer, with over 1.5 million refuelings annually, while Cummins has deployed over 2,000 fuel cells globally, underscoring their commitment to a sustainable, zero-emissions future.