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Air Products (APD) Inks Long-Term Supply Deal With IOCL
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Air Products and Chemicals, Inc. (APD - Free Report) signed a long-term supply agreement with Indian Oil Corporation Limited (“IOCL”), the biggest petroleum refining company in India. Air Products will build, own and operate a new industrial gases complex providing hydrogen, nitrogen and steam to IOCL's Barauni Refinery in Bihar, India.
The new complex will facilitate IOCL's capacity expansion from six to nine million tons per annum, manufacturing Euro-VI or BS-VI compliant gasoline and diesel at its Barauni complex. It will include the latest generation multi-feed hydrogen production facility. Air Products expects the new industrial gas complex for IOCL to commence operations in 2024.
Air Products stated that it is honored to work with IOCL. Its latest strategic investment in India will provide an efficient combination of industrial gas production technologies, enabling IOCL to meet ever-increasing transportation fuel demand. The company looks forward to reliably supplying IOCL's industrial gas needs for decades to come.
Shares of Air Products have declined 15.5% in the past year compared with a 2.8% fall of the industry.
Image Source: Zacks Investment Research
Air Products, in its fiscal second-quarter earnings call, stated that it expects full-year fiscal 2022 adjusted EPS of $10.20-$10.40, indicating 13-15% growth from the prior year’s adjusted EPS. For the third quarter of fiscal 2022, the company expects EPS in the range of $2.55-$2.65, suggesting a rise of 10-15% from third-quarter fiscal 2021 adjusted EPS.
Air Products expects capital expenditures of $4.5-$5 billion for full-year fiscal 2022.
Air Products and Chemicals, Inc. Price and Consensus
Air Products currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Allegheny Technologies Inc. (ATI - Free Report) , Nutrien Ltd. (NTR - Free Report) and The Chemours Company (CC - Free Report) .
Allegheny has a projected earnings growth rate of 953.9% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised 31.7% upward in the past 60 days.
Allegheny’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 128.9%, on average. ATI has gained around 13.6% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Nutrien has a projected earnings growth rate of 163.6% for the current year. The Zacks Consensus Estimate for NTR’s current-year earnings has been revised 26.8% upward in the past 60 days.
Nutrien’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 5.8%. NTR has gained 36.8% in a year. The company flaunts a Zacks Rank #1.
Chemours, currently sporting a Zacks Rank #1, has an expected earnings growth rate of 30.5% for the current year. The Zacks Consensus Estimate for CC's earnings for the current year has been revised 15.2% upward in the past 60 days.
Chemours’ earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 28.7%. CC has gained around 17% over a year.
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Air Products (APD) Inks Long-Term Supply Deal With IOCL
Air Products and Chemicals, Inc. (APD - Free Report) signed a long-term supply agreement with Indian Oil Corporation Limited (“IOCL”), the biggest petroleum refining company in India. Air Products will build, own and operate a new industrial gases complex providing hydrogen, nitrogen and steam to IOCL's Barauni Refinery in Bihar, India.
The new complex will facilitate IOCL's capacity expansion from six to nine million tons per annum, manufacturing Euro-VI or BS-VI compliant gasoline and diesel at its Barauni complex. It will include the latest generation multi-feed hydrogen production facility. Air Products expects the new industrial gas complex for IOCL to commence operations in 2024.
Air Products stated that it is honored to work with IOCL. Its latest strategic investment in India will provide an efficient combination of industrial gas production technologies, enabling IOCL to meet ever-increasing transportation fuel demand. The company looks forward to reliably supplying IOCL's industrial gas needs for decades to come.
Shares of Air Products have declined 15.5% in the past year compared with a 2.8% fall of the industry.
Image Source: Zacks Investment Research
Air Products, in its fiscal second-quarter earnings call, stated that it expects full-year fiscal 2022 adjusted EPS of $10.20-$10.40, indicating 13-15% growth from the prior year’s adjusted EPS. For the third quarter of fiscal 2022, the company expects EPS in the range of $2.55-$2.65, suggesting a rise of 10-15% from third-quarter fiscal 2021 adjusted EPS.
Air Products expects capital expenditures of $4.5-$5 billion for full-year fiscal 2022.
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 Allegheny Technologies Inc. (ATI - Free Report) , Nutrien Ltd. (NTR - Free Report) and The Chemours Company (CC - Free Report) .
Allegheny has a projected earnings growth rate of 953.9% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised 31.7% upward in the past 60 days.
Allegheny’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 128.9%, on average. ATI has gained around 13.6% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Nutrien has a projected earnings growth rate of 163.6% for the current year. The Zacks Consensus Estimate for NTR’s current-year earnings has been revised 26.8% upward in the past 60 days.
Nutrien’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 5.8%. NTR has gained 36.8% in a year. The company flaunts a Zacks Rank #1.
Chemours, currently sporting a Zacks Rank #1, has an expected earnings growth rate of 30.5% for the current year. The Zacks Consensus Estimate for CC's earnings for the current year has been revised 15.2% upward in the past 60 days.
Chemours’ earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 28.7%. CC has gained around 17% over a year.