Welcome to our dedicated page for Air Prods & Chems news (Ticker: APD), a resource for investors and traders seeking the latest updates and insights on Air Prods & Chems stock.
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) has been awarded a gold medal for Corporate Social Responsibility (CSR) by EcoVadis for the fifth consecutive year, placing it in the top four percent of rated companies. This acknowledgment highlights the company's ongoing commitment to sustainability, which is integral to its growth strategy. EcoVadis evaluates CSR through various management indicators across sustainability criteria. Additionally, Air Products has received accolades from Barron's and the Dow Jones Sustainability Index, affirming its status as a leader in sustainability and environmental responsibility.
Air Products (NYSE: APD) has finalized asset acquisitions and project financing for a $12 billion air separation unit/gasification/power joint venture in Jazan, Saudi Arabia, in partnership with Aramco, ACWA Power, and Air Products Qudra. The joint venture will manage a facility under a 25-year contract with Aramco supplying feedstock. Air Products holds a 50.6% ownership in the venture. This facility will support Aramco's Jazan Refinery, enhancing energy production capabilities from crude oil processing.
Air Products (NYSE: APD) and Sublime Stericeuticals announced a collaboration to develop advanced sublimation and desorption technology aimed at creating a continuous freeze-drying system for vaccine and drug solutions. This joint development agreement will leverage Air Products' cryogen delivery and liquid nitrogen spray freezing technology alongside Sublime's expertise. The new system is designed to enhance pharmaceutical manufacturing efficiency, potentially improving yield and viability for high-value materials. The goal is to reduce long processing times and improve outcomes in lyophilization, a critical process in drug preservation.
Air Products (NYSE:APD) has launched a new brand identity for its membrane business units, rebranding them as Air Products Membrane Solutions. This change aims to enhance customer experience and foster collaboration among its previously separate units, including PRISM® Membranes and Permea China Ltd. The company, a leader in membrane technology for 30 years, focuses on innovative solutions for gas separation and purification, particularly in industries such as aerospace, food and beverage, and energy. With projected sales of $8.9 billion in fiscal 2020, Air Products continues its commitment to sustainability and technological advancement.
On October 14, 2021, Louisiana Governor John Bel Edwards and Air Products CEO Seifi Ghasemi announced a $4.5 billion clean energy complex in Ascension Parish, Louisiana, aimed at producing over 750 MMSCFD of blue hydrogen. This megaproject will create 170 permanent jobs with an annual payroll of $15.9 million and over 2,000 construction jobs over three years. It includes the world's largest carbon capture for permanent sequestration, expected to be operational by 2026. This investment marks Air Products' largest in the U.S. and solidifies Louisiana's position in the clean energy transition.
Air Products (NYSE:APD) is set to announce its fiscal 2021 fourth quarter financial results on November 4, 2021, prior to market open. A teleconference will be held at 8:30 a.m. ET for public and media access. Interested participants can join via telephone or Internet broadcast. The company, a leader in industrial gases with a fiscal 2020 revenue of $8.9 billion, is focused on energy, environment, and emerging markets, operating in over 50 countries with a market cap around $60 billion.
Air Products (NYSE: APD) has initiated operations at its new liquid hydrogen plant located in La Porte, Texas, producing about 30 tons of liquid hydrogen daily. This facility is designed to meet the growing demand in various markets, particularly the hydrogen for mobility sector. The hydrogen will be sourced from Air Products' extensive Gulf Coast hydrogen pipeline network. In addition, the company plans to construct a green hydrogen production facility in the Southwest U.S. to cater to zero-carbon hydrogen fuel needs.
Air Products' president, Francesco Maione, will present at the GAWDA Annual Convention on October 9 in Colorado Springs, Colorado. His speech titled "Creating Value Together – Looking Back, Looking Forward" will cover industrial gas distribution and business philosophy. The company also supports community initiatives with a $10,000 donation to the Children's Literacy Center and has awarded a $2,500 scholarship to Ferris State University student Kassidy Tohm. Air Products is a leader in industrial gases with $8.9 billion in 2020 sales and a market cap of approximately $60 billion.
The collaboration between Aramco, Air Products (NYSE: APD), ACWA Power, and Air Products Qudra has resulted in the finalization of agreements for a $12 billion joint venture in Jazan Economic City. Air Products holds a 50.6% stake, while Aramco has 20%. The joint venture will operate under a 25-year contract, providing essential utilities to Aramco's Jazan Refinery. The deal is supported by $7.2 billion in financing from various lenders. All asset transfers and funding are expected to be completed by October 2021, strengthening existing partnerships and facilitating economic development in the region.
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