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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 strong fiscal 2020 results with GAAP EPS of $8.55, up 8% despite an estimated $0.60-$0.65 negative impact from COVID-19. GAAP net income rose 7% to $1,931 million, with a net income margin of 21.8%. For Q4 FY20, GAAP EPS decreased 4% to $2.19 due to lower volumes, resulting in a net income of $495 million. The company announced a $7 billion NEOM project to supply carbon-free hydrogen, and also raised its dividend by 15%, marking the largest increase in its history.
Air Products (NYSE: APD) will announce its fiscal 2020 fourth quarter financial results on November 11, 2020, prior to market open. A teleconference to discuss these results will occur at 10:00 a.m. ET the same day, accessible to the public via telephone and Internet. Interested parties can listen to the conference call by dialing 323-794-2093 with passcode 5106187. The replay will be available until November 18, 2020. The company, a leader in industrial gases, reported fiscal 2019 sales of $8.9 billion and has a market capitalization of approximately $65 billion.
Air Products (NYSE: APD) has launched a community initiative in Xiangyuan County, China, to ensure safe drinking water for schools, benefiting over 12,000 students. The program includes a donation of 22 water purification devices and reusable containers in partnership with Shenzhen One Foundation. This program is the first supported by the Air Products Foundation in China, aimed at fostering science education through employee-led courses. The company also announced a sustainability goal to reduce CO2 emissions by one-third by 2030, showcasing its commitment to environmental responsibility.
Air Products (NYSE: APD) has set new diversity goals, aiming for at least 28% female representation and 20% U.S. minority representation in professional and managerial roles by 2025. This marks an increase from 25% and 17% respectively, based on a 2020 baseline. The firm emphasizes its commitment to diversity and inclusion through transparency, accountability, and various initiatives, including enhanced policies and leadership programs. These measures come amid broader sustainability commitments, reinforcing Air Products' position as a leader in the industrial gas sector.
Air Products' CEO, Seifi Ghasemi, will receive the STEM Leadership Award for Outstanding Global Growth on December 7, 2021. Under Ghasemi's leadership, Air Products became the largest U.S. chemical company by market capitalization in 2020, with a $2 billion project in Indonesia and a significant $7 billion green hydrogen initiative in NEOM, aiming to supply carbon-free hydrogen and reduce emissions equivalent to over 700,000 cars. Ghasemi emphasized his team’s dedication to sustainability and innovation, highlighting their role in advancing STEM initiatives.
Air Products (NYSE: APD) has launched a revamped website coinciding with its 80th anniversary, enhancing customer engagement and service delivery. The new site features a simplified structure, improved mobile access, interactive tools for identifying industrial gases, and better account management through the MyAirProducts portal. It reflects the company's evolution into a leader in gasification, carbon capture, and hydrogen solutions. Additionally, Air Products is implementing 26 localized websites globally to provide tailored content and experiences for its diverse stakeholders.
Air Products (NYSE: APD) announced its membership in the European Clean Hydrogen Alliance (ECH2A) on Sept. 24, 2020, aiming to accelerate Europe's transition to a sustainable economy through hydrogen technology. With expertise in the hydrogen value chain, the company plans to connect renewable hydrogen production with industry demand. APD is involved in global hydrogen initiatives, including NEOM, a major green hydrogen project in Saudi Arabia. The company reported fiscal 2019 sales of $8.9 billion and has a market cap of approximately $65 billion.
On September 21, 2020, Air Products announced a price increase for its products and services in North America, effective October 1, 2020. Liquid nitrogen and liquid oxygen prices will rise by up to 15%, while liquid carbon dioxide will also see a similar increase. Monthly service charges may increase by up to 20%. Other gases like helium, hydrogen, and argon will have price adjustments based on supply and demand. These changes are attributed to rising sourcing, production, and delivery costs, aimed at enhancing reliability and safety investments.
Air Products (NYSE: APD) announced a new Sustainability goal to reduce CO2 emissions intensity by one-third by 2030, using 2015 as the baseline. This announcement aligns with the company's commitment to sustainability, which has been integral to its operations for the past 80 years. The initiative is part of a broader strategy that includes carbon capture and increased renewable energy use. In 2019, Air Products enabled customers to avoid 69 million metric tons of CO2 emissions. The company is also developing additional new Sustainability goals beyond this emissions reduction target.
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