Air Products (APD) to Showcase Freshline at the Seafood Expo
Air Products and Chemicals, Inc. APD will showcase its latest advancements in "Smart Technology" capabilities for seafood processors at the Seafood Expo North America, which will take place from Mar 10 to Mar 12 at the Boston Convention and Exhibition Center.
One of the innovations showcased will be Air Products' new Freshline Smart Technology, which allows customers to remotely control and monitor food processing processes. Air Products' Smart Technology employs sensors and wireless technology to optimize processes and monitor crucial parameters. Self-monitoring analysis enables users to view data in real-time, hence increasing efficiency, productivity and sustainability.
In addition, Air items will demonstrate their Freshline IQF+ Tunnel Freezer, which has a highly efficient design that allows processors to create consistent, high-quality Individually Quick Frozen (IQF) items at higher throughputs than typical spray-freezing cryogenic IQF freezers.
Air Products has been selling gases, equipment and technology to the food sector for more than 60 years. The company offers Freshline solutions to all types of customers, from major manufacturers with several product lines to small food processors with specialist goods. Air Products provides industrial gases in a variety of distribution options to meet each customer's needs.
Shares of Air Products have lost 15.4% over the past year compared with a 13.3% decline of its industry.
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Air Products, on its fiscal first-quarter call, said that it now expects fiscal 2024 adjusted EPS of $12.20-$12.50 (down from $12.80-$13.10 expected earlier), indicating 6-9% growth from the prior year’s adjusted EPS. For the second quarter of fiscal 2024, the company expects adjusted earnings per share in the range of $2.60-$2.75.
Air Products expects capital expenditures in the range of $5 billion to $5.5 billion for fiscal 2024.
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).
Better-ranked stocks in the basic materials space include United States Steel Corporation X, Carpenter Technology Corporation CRS and Alpha Metallurgical Resources Inc. AMR.
United States Steel carrying a Zacks Rank #1 (Strong Buy). X beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 54.8%. The company’s shares have soared 59.3% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Carpenter Technology currently carries a Zacks Rank #1. CRS beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, with the average earnings surprise being 12.2%. The company’s shares have soared 27.1% in the past year.
The Zacks Consensus Estimate for AMR’s current-year earnings has been revised upward by 69% in the past 60 days. It currently carries a Zacks Rank #1. AMR delivered a trailing four-quarter earnings surprise of roughly 24.8%, on average. AMR shares are up around 105.5% in a year.
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