Air Products (APD) to Feature Industrial Gases for Food Products
Air Products and Chemicals, Inc. APD will highlight the use of industrial gases in improving food processing at Naturals Products Expo West in Anaheim, CA, from Mar 9-11. The company will showcase the productivity and quality benefits of using industrial gases, which can be used in almost all natural food products, including plant-based food processing applications.
The company will feature its Freshline IQF+ Tunnel Freezer technology that provides a highly efficient design to support food processors in producing high-quality, individually Quick Frozen (IQF) products in larger throughputs. The company will also feature its Freshline Bottom Injection Cooling System that injects liquid nitrogen and carbon dioxide into a product during the mixing, blending or grinding stages. These technologies, along with the company’s proprietary clean-in-place (CIP) and analytics platforms, will help producers to provide maximum safety and efficiency in the long term.
These technologies will provide innovative solutions to food processors in various activities like food freezing and chilling. Cryogenic gases are a good alternative to traditional freezing systems as they freeze food products in minutes.
Shares of Air Products have gained 27.4% over a year compared with a 13.5% rise recorded by its industry.
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Air Products, on its first-quarter call, said that it expects its adjusted earnings to be in the range of $11.20-$11.50 per share for fiscal 2023. The company also sees its adjusted earnings for the second quarter to be between $2.50 and $2.70. For 2023, the company expects its capital expenditures to be in the range of $5-$5.5 billion for 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
Air Products currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Olympic Steel, Inc. ZEUS, ATI Inc. ATI, and Cal-Maine Foods, Inc. CALM. ATI currently carries a Zacks Rank #2 (Buy), while ZEUS and CALM sport a Zacks Rank #1(Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Olympic Steel’s shares have gained 81.6% in the past year. The Zacks Consensus Estimate for ZEUS’s current-year earnings has been revised 61% upward in the past 60 days. ZEUS topped Zacks Consensus Estimate in all the last four quarters. It delivered a trailing four-quarter earnings surprise of 26.2% on average.
ATI’s shares have gained 63.6% in the past year. The Zacks Consensus Estimate for ATI’s current-year earnings has been revised 1.9% upward in the past 60 days. The company has an earnings growth rate of 9% for the current year.
ATI topped Zacks Consensus Estimate in all the last four quarters. It delivered a trailing four-quarter earnings surprise of 32.4% on average.
Cal-Maine’s shares have gained 27.9% in the past year. The company has an earnings growth rate of 515.8% for the current year. The Zacks Consensus Estimate for CALM’s current-year earnings has been revised 19% upward in the past 60 days.
CALM topped Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 15.3% on average.
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