Air Products and Chemicals, Inc. ( APD Quick Quote APD - Free Report) will be showcasing hydrogen for mobility solutions for heavy-duty transportation at the Advanced Clean Transportation Expo, North America's largest advanced transportation technology and clean fleet event. The industrial gases giant will showcase its solutions from Aug 31 to Sep 1, at the Long Beach Convention Center in Long Beach, CA. Hydrogen is gaining popularity as the alternative sustainable transportation technology as it meets the heavy-duty application requirements, especially in extreme climatic conditions. Air Products is a major player in the hydrogen value chain and has extensive experience with a significant number of fueling stations across many countries. Air Products also recently announced plans of converting its global fleet of roughly 2,000 trucks to hydrogen fueled cell zero-emission vehicles, in collaboration with Cummins Inc., a global power and hydrogen technologies leader. The companies will work toward accelerating the integration of hydrogen-fueled cell trucks in the United States, Europe and Asia and also easing the access to renewable hydrogen. Per the partnership, Cummins will provide hydrogen-fueled cell electric powertrains integrated into heavy-duty trucks of selected OEM partners for Air Products. Air Products noted that the transition to hydrogen for heavy-duty transportation is a vital step in building a cleaner future. Hydrogen-fueled cell trucks and buses have inherent technical advantages over their battery electric counterparts. These include faster refueling and the ability to travel longer distances while carrying bulky payloads. Shares of Air Products have declined 7.6% in a year against the industry’s rise of 31%. The estimated earnings growth rate for the company for the current year is 7.5%. Image Source: Zacks Investment Research
In the fiscal third quarter, the company’s adjusted earnings per share were $2.31, which missed the Zacks Consensus Estimate of $2.39. Its revenues were $2,604.7 million in the quarter, increasing 26% year over year. The top line beat the Zacks Consensus Estimate of $2,562.8 million
Air Products expects adjusted earnings of $8.95-$9.05 for fiscal 2021 and $2.44-$2.54 for the fiscal fourth quarter. The company expects capital spending of roughly $2.5 billion for fiscal 2021, excluding the Jazan transaction. Zacks Ranks & Stocks to Consider
Currently, Air Products has a Zacks Rank #4 (Sell).
Better-ranked stocks in the basic materials space include BASF SE ( BASFY Quick Quote BASFY - Free Report) and Avient Corporation ( AVNT Quick Quote AVNT - Free Report) , each flaunting a Zacks Rank #1 (Strong Buy) and Dow Inc. ( DOW Quick Quote DOW - Free Report) , carrying a Zacks Rank #2 (Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here BASF has a projected earnings growth rate of 96.7% for the current year. The company’s shares have rallied 28.9% in a year. Avient has a projected earnings growth rate of 75.1% for the current year. The company’s shares have appreciated 104.4% in a year. Dow has a projected earnings growth rate of 403% for the current year. The company’s shares have risen 41.8% in a year.