Air Products & Chemicals, Inc. - APD STOCK NEWS

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.

On July 19, 2021, Wayne T. Smith was elected to the Board of Directors of Air Products (NYSE:APD), effective August 1, 2021. Smith brings over 35 years of experience in the industrial gases and chemicals sector, including leadership roles at BASF, where he served as Chairman and CEO. His extensive background includes strategic positions in various companies, enhancing Air Products' operational expertise. The company reported $8.9 billion in sales for fiscal 2020 and has a market capitalization of approximately $65 billion, focusing on sustainable energy and environmental solutions.

Air Products' Board of Directors has declared a quarterly dividend of $1.50 per share, to be paid on November 8, 2021. Shareholders of record by October 1, 2021 will qualify for this distribution. The company reported fiscal sales of $8.9 billion in 2020 and has a market capitalization of approximately $65 billion. With over 19,000 employees globally, Air Products continues to lead in the industrial gases sector, focusing on sustainability and innovative solutions across various industries.

Air Products (NYSE:APD) announced that Scott Crocco, Executive Vice President and CFO, will retire on September 30, 2021, after a 31-year career. Melissa Schaeffer will succeed him as CFO starting August 10, 2021. Schaeffer has held various financial roles since joining the company in June 2016, demonstrating her capability in leading Air Products' financial organization. Chairman Seifi Ghasemi praised Crocco's contributions to profitability and shareholder value, while expressing confidence in Schaeffer’s leadership to drive further growth and address global energy challenges.

Air Products (NYSE:APD) announced the commissioning of its first hydrogen fueling station for the 2022 Winter Olympics in Zhangjiakou, China. This station, built with advanced technology, has a filling capacity of 200 kg per day and serves hydrogen fuel cell vehicles like the Toyota FCEV Coaster and MIRAI Gen 2. The project supports China's Green Olympics initiative and aims to leave a sustainable legacy. Air Products has over 60 years of experience in hydrogen, with more than 250 fueling projects globally and a fiscal 2020 revenue of $8.9 billion.