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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 (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.
Air Products (NYSE:APD) announced that Chairman, President, and CEO Seifi Ghasemi will speak at the Citi 2020 Basic Materials Virtual Conference on December 1, 2020, at 9:00 a.m. USET. A webcast of the event will be accessible on Air Products' Investor Relations website. The company, a leader in industrial gases, reported fiscal 2020 sales of $8.9 billion and has a market capitalization of approximately $60 billion. Air Products operates globally, focusing on energy, environment, and developing innovative gas solutions.
Air Products (NYSE:APD) announced the retirement of Margaret G. McGlynn from its Board of Directors, effective November 23, 2020, after 15 years of service due to the company's term limit policy. McGlynn has significant experience in global marketing, government relations, and public policy. Air Products' CEO, Seifi Ghasemi, expressed gratitude for her contributions, stating she played a key role in the company's strategic Five-Point Plan. The company reported fiscal 2020 sales of $8.9 billion and maintains a market capitalization of approximately $60 billion.
The Board of Directors of Air Products (NYSE:APD) declared a quarterly dividend of $1.34 per share, payable on February 8, 2021. Shareholders must be on record by January 4, 2021. In fiscal 2020, the company reported sales of $8.9 billion with a market cap of approximately $60 billion. Air Products has over 19,000 employees and focuses on providing essential industrial gases and technology for various industries, including energy and environmental solutions.
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.
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