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Air Products (APD) Commissions Hydrogen Station in Shandong

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Air Products and Chemicals, Inc.  (APD - Free Report) recently declared that it has commissioned its first hydrogen station in Shandong Province for fueling buses and trucks. The move is aimed at supporting China's "Hydrogen into Ten Thousand Homes" demonstration project and green transportation.

The company expedited many hydrogen production and application projects in the province in support of this national project. It is a high-level project started by China's Ministry of Science and Technology in association with Shandong provincial government. It is expected to promote the comprehensive use of hydrogen energy and demonstrate hydrogen applications in industrial parks, community buildings and transportation to create a hydrogen-powered society.

It is Air Products’ first and also one of the first hydrogen fueling stations in Shandong. It is equipped with the company's patented fueling technology and two state-of-the-art dispensers, with hydrogen energy supplied by its production facility in Zibo. The station can fuel various fleets of public buses and trucks used for logistics.

Shandong has unique advantages in hydrogen energy resources and has set up a complete hydrogen industry value chain inclusive of production, storage, transportation and applications for future development.

Shares of Air Products have declined 1.7% in the past year against 33% rise of the industry.

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Air Products, in its last earnings call, stated that it expects adjusted earnings per share of $8.95-$9.05 for fiscal 2021 and $2.44-$2.54 for fourth-quarter fiscal 2021. It expects capital spending of roughly $2.5 billion for the fiscal, excluding the Jazan transaction.

 

Zacks Rank & Key Picks

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

Some better-ranked stocks in the basic materials space are Nucor Corporation (NUE - Free Report) , Dow Inc. (DOW - Free Report) and Cabot Corporation (CBT - Free Report) .

Nucor has a projected earnings growth rate of around 489.2% for the current year. The company’s shares have surged 168% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Dow has an expected earnings growth rate of around 403.01% for the current year. The company’s shares have gained 41.6% in the past year. It currently carries a Zacks Rank #2 (Buy).

Cabot has an expected earnings growth rate of around 138.5% for the current fiscal. The company’s shares have rallied 39.2% in the past year. It currently holds a Zacks Rank #2.