Air Products and Chemicals Inc. (APD - Free Report) signed a supply agreement with a subsidiary of Shanxi Jincheng Anthracite Coal Mining Group. Per the deal, the company will supply industrial gases to Phase One of Shanxi Jinmei Huayu Coal Chemical Co Ltd.'s (Jinmei Huayu's) coal-to-clean-fuels project in Jincheng City, Shanxi Province, China.
Prior to this, Air Products landed an equipment-sale agreement with Jinmei Huayu to supply two air separation units (ASUs) with a total capacity of over 4,000 tons per day for this project that uses coal to produce clean fuels.
The company now, under a long-term supply agreement, intends to buy back the two ASUs for around $100 million and supply industrial gases via pipelines to Jinmei Huayu. The deal is however, subject to finalization of a buy-back agreement and government and regulatory approvals. The ASUs are expected to come online by mid-2018.
Air Products has underperformed the industry it belongs to over a year. The company’s shares have moved up 8.6% over this period, compared with roughly 20.8% gain recorded by its industry.
Air Products expects adjusted earnings per share of $1.60-$1.70 for first-quarter fiscal 2018, up 9-16% from the year-ago quarter. For fiscal 2018, Air Products expects adjusted earnings per share of $6.85-$7.05, up 9-12% year over year.
Air Products has a strong project backlog and benefits from actions to cut operational costs. Moreover, strategic investments in high-return projects, new business deals and acquisitions are expected to drive results in fiscal 2018.
Air Products and Chemicals, Inc. Price and Consensus
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Air Products and Chemicals Inc. (APD - Free Report) signed a supply agreement with a subsidiary of Shanxi Jincheng Anthracite Coal Mining Group. Per the deal, the company will supply industrial gases to Phase One of Shanxi Jinmei Huayu Coal Chemical Co Ltd.'s (Jinmei Huayu's) coal-to-clean-fuels project in Jincheng City, Shanxi Province, China.
Prior to this, Air Products landed an equipment-sale agreement with Jinmei Huayu to supply two air separation units (ASUs) with a total capacity of over 4,000 tons per day for this project that uses coal to produce clean fuels.
The company now, under a long-term supply agreement, intends to buy back the two ASUs for around $100 million and supply industrial gases via pipelines to Jinmei Huayu. The deal is however, subject to finalization of a buy-back agreement and government and regulatory approvals. The ASUs are expected to come online by mid-2018.
Air Products has underperformed the industry it belongs to over a year. The company’s shares have moved up 8.6% over this period, compared with roughly 20.8% gain recorded by its industry.
Air Products expects adjusted earnings per share of $1.60-$1.70 for first-quarter fiscal 2018, up 9-16% from the year-ago quarter. For fiscal 2018, Air Products expects adjusted earnings per share of $6.85-$7.05, up 9-12% year over year.
Air Products has a strong project backlog and benefits from actions to cut operational costs. Moreover, strategic investments in high-return projects, new business deals and acquisitions are expected to drive results in fiscal 2018.
Air Products and Chemicals, Inc. Price and Consensus
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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