Air Products & Chemicals, Inc. - APD STOCK NEWS

Air Products (NYSE:APD) reported Q1 FY21 financial results, showing GAAP EPS of $2.12, down 1%, with a net income of $487 million. The company noted an estimated $0.10-$0.15 EPS impact from COVID-19. Sales increased 5% to $2.4 billion, driven by favorable currency and pricing, despite a 1% decline in volumes. Adjusted EBITDA stood at $932 million, up 3%. The dividend was raised by 12% to $1.50, marking the 39th consecutive year of increases. The company remains committed to growth in industrial gases and sustainable solutions.

Air Products (NYSE: APD) has secured an agreement to provide its proprietary LNG technology, equipment, and advisory services for the Energia Costa Azul (ECA) LNG Export Terminal in Ensenada, Mexico. The company will manufacture coil wound heat exchangers at its Port Manatee facility, enabling production of approximately three million tons of LNG annually. This partnership marks a significant milestone for Air Products, reinforcing its leadership in the LNG market and commitment to innovative, cost-effective energy solutions aimed at reducing greenhouse gas emissions.

On January 28, 2021, Air Products (NYSE: APD) announced a 12% increase in its quarterly dividend, raising it from $1.34 to $1.50 per share, effective May 10, 2021. This marks the 39th consecutive year of dividend increases, signifying strong financial health. In fiscal 2020, the company returned approximately $1.1 billion to shareholders through dividends and maintained substantial cash flow for further investments. Shareholders of record by April 1, 2021, will benefit from this increment.

Air Products (NYSE: APD) participated in a panel discussing the FCHEA's "Road Map to a U.S. Hydrogen Economy" report, emphasizing the U.S.'s potential in the hydrogen sector. The report outlines strategies to enhance hydrogen production and usage, crucial for reducing greenhouse gases. Key initiatives include a $5 billion green hydrogen ammonia project in Saudi Arabia, projected to produce 1.2 million tons of green ammonia annually by 2025. Additionally, Air Products is developing a liquid hydrogen plant in Texas capable of producing 30 tons daily, leveraging its extensive hydrogen pipeline network.

Air Products (NYSE:APD) will report its fiscal 2021 first quarter financial results on February 4, 2021, before market opening. A teleconference to discuss these results will take place at 10:00 a.m. ET on the same day, accessible to the public via telephone and online. The company's fiscal 2020 sales reached $8.9 billion with a market capitalization of around $60 billion. Air Products specializes in industrial gases and has pioneered various projects supporting energy transition, including carbon capture and hydrogen initiatives.

Air Products (NYSE: APD) has signed a long-term gas supply contract with Shandong Binhua New Material Co., a subsidiary of Befar Group, to support Binhua's major chemical project in China's Shandong Province. The contract involves building, owning, and operating gas production facilities, including an energy-efficient air separation unit (ASU), to meet Binhua's needs for gaseous oxygen and nitrogen. The facilities are expected to be operational by 2022. This investment enhances Air Products' presence in the region and supports China's chemical industry transformation under the 14th Five-Year Plan.

Air Products (NYSE:APD) will participate in the virtual Pennsylvania Hemp Summit on Dec. 8-9, 2020. Key representatives, Michael Himes and Timothy Lebrecht, will discuss emerging technologies for the industrial hemp sector. The company is collaborating with the University of Virginia to explore cryogenic freezing benefits for cannabinoid extraction. Air Products highlights how industrial gases enhance the industrial hemp process from harvesting to packaging, showcasing their advanced cryogenic technology aimed at improving efficiency and effectiveness in the industry.

Air Products (NYSE:APD) has appointed Brian Galovich as the new senior vice president and chief information officer (CIO). Reporting to Seifi Ghasemi, CEO, Galovich will oversee technology-driven solutions for operational efficiency, serving over 19,000 employees globally. With 24 years of experience in digital technology, he previously held CIO roles at Collins Aerospace, Pratt & Whitney, and United Technologies. Galovich's educational background includes degrees from the University of Connecticut, Rensselaer Polytechnic Institute, and Carnegie Mellon University.