Air Products (APD) to Feature Clean Hydrogen & Energy Solutions
Air Products and Chemicals, Inc. APD will be showcasing clean hydrogen and energy transition solutions, liquefied natural gas, membrane solutions and turbomachinery at Gastech 2023, which will be held from Sep 5-8, at the Singapore Expo in Tampines, Singapore.
In order to accelerate the energy transition, Air Products will be investing at least $15 billion in clean hydrogen projects by 2027. Air Products is making efforts to create a greener future, from a green ammonia project at NEOM in the Kingdom of Saudi Arabia to the net-zero hydrogen energy complex in Alberta, Canada, to its sustainable aviation fuel project in California
Air Products' industry experts will also be available at Gastech 2023 at the Singapore Expo to share information on a wide range of products and technologies for clean hydrogen, liquefied natural gas (LNG), membrane solutions and turbomachinery, including models of LNG modularized product offerings and a Membrane Solutions hydrogen recovery system.
Shares of APD have gained 19.8% over the past year compared with an 11.7% rise of its industry.
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Air Products is expected to benefit from its investments in high-return industrial gas projects and productivity measures. The company remains focused on its gasification strategy and is executing its growth projects. These projects are expected to be accretive to earnings and cash flows.
Air Products, on its fiscal third-quarter call, said that it expects full-year fiscal 2023 adjusted EPS of $11.40-$11.50, indicating 11-12% growth from the prior year’s adjusted EPS. For the fourth quarter of fiscal 2023, the company expects adjusted EPS in the range of $3.04-$3.14, suggesting a rise of 7-10% from fourth-quarter fiscal 2022 adjusted EPS.
Air Products expects capital expenditures in the range of $5 billion to $5.5 billion for full-year fiscal 2023.
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
APD currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Denison Mine Corp. DNN and Veritiv Corporation VRTV.
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). The stock has rallied roughly 91% in the past year. CRS beat the Zacks Consensus Estimate in three of the last four quarters while meeting in one. It delivered a trailing four-quarter earnings surprise of 9.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Denison Mines currently carries a Zacks Rank #1. The stock has gained roughly 7.7% in the past year. DNN beat the Zacks Consensus Estimate in three of the last four quarters while meeting once. It delivered a trailing four-quarter earnings surprise of 75%, on average.
Veritiv currently carries a Zacks Rank #2. The stock has rallied roughly 44.6% in the past year. VRTV beat the Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 6%, on average.
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