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Air Products (APD) Buys Air Liquide's Gas Units in UAE & Bahrain

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Air Products and Chemicals, Inc. APD purchased Air Liquide's industrial gases business in the United Arab Emirates (UAE), including liquid bulk, packaged gases and specialty gases. APD also acquired Air Liquide's majority share in MECD, which owns and operates a liquid CO2 manufacturing site in Bahrain.

Air Products stated that the acquisition builds on many years of good experience working in and serving customers in the Middle East and supports the region’s growth strategy. It is yet another testimony of how the company is building and strengthening its industrial gas business in the Middle East.

By purchasing these businesses, Air Products broadened its footprint and regional presence in the UAE and Bahrain, boosted its product sourcing and reliability and welcomed talented and dedicated people into its Middle East organization who are passionate about serving local customers.

Shares of Air Products have declined 13% in the past year compared with a 2.4% fall of the industry.

Zacks Investment Research
Zacks Investment Research


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Air Products, in its fiscal first-quarter earnings call, stated that it expects fiscal 2022 adjusted earnings per share (EPS) between $10.20 and $10.40. The projection suggests an increase of 13-15% from the prior year’s adjusted EPS. For the second quarter of fiscal 2022, the company expects EPS in the range of $2.30-$2.40. The projection indicates an increase of 11-15% from second-quarter fiscal 2021 adjusted EPS.

Air Products also expects capital expenditures in the band of $4.5-$5 billion for fiscal 2022.

Air Products and Chemicals, Inc. Price and Consensus

Air Products and Chemicals, Inc. Price and Consensus
Air Products and Chemicals, Inc. Price and Consensus

Air Products and Chemicals, Inc. price-consensus-chart | Air Products and Chemicals, Inc. Quote

Zacks Rank & Key Picks

Air Products currently carries a Zacks Rank #4 (Sell).

Some other top-ranked stocks in the basic materials space are The Mosaic Company MOS, AdvanSix Inc. ASIX and Allegheny Technologies Incorporated ATI.

Mosaic has a projected earnings growth rate of 131.2% for the current year. The Zacks Consensus Estimate for MOS' current-year earnings has been revised 32.7% upward in the past 60 days.

Mosaic’s earnings beat the Zacks Consensus Estimate in three of the last four quarters while missing once. It delivered a trailing four-quarter earnings surprise of roughly 3.7%, on average. MOS has rallied around 126.5% in a year and currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

AdvanSix has a projected earnings growth rate of 64.8% for the current year. The Zacks Consensus Estimate for ASIX’s current-year earnings has been revised 58% upward in the past 60 days.

AdvanSix’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 23.6%. ASIX has surged 76.7% in a year. The company sports a Zacks Rank #1.

Allegheny, currently sporting a Zacks Rank #1, has an expected earnings growth rate of 684.6% for the current year. The Zacks Consensus Estimate for ATI's earnings for the current year has been revised 20% upward in the past 60 days.

Allegheny’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 127.2%. ATI has rallied around 28.2% over a year.


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