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Air Products (APD), Eneco Unite for Solar Power in the Netherlands
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Air Products and Chemicals, Inc. (APD - Free Report) , a global leader in industrial gases, announced a pivotal stride in its sustainability commitment with the signing of a Power Purchase Agreement (PPA) for renewable energy with Eneco. This strategic alliance underscores Air Products' dedication to mitigating climate impacts and procuring a substantial portion of its energy needs in the Netherlands from renewable sources.
In this 10-year PPA, Air Products will procure the majority of its current merchant business energy consumption for liquid nitrogen and oxygen production in the country from a dependable and renewable energy source. The renewable electricity will originate from the Vlagtwedde Solar PV farm in northeast Netherlands. This signed PPA will enable Air Products to offset emissions equivalent to the carbon footprint of approximately 45,000 households throughout the duration of the contract.
This commitment marks a milestone in the company's ongoing endeavors to lower its carbon footprint in the Netherlands and contribute to a more sustainable future. Last year, APD unveiled plans to construct Europe's largest blue hydrogen facility in the Port of Rotterdam. This initiative followed announcements of Air Products' intentions for a renewable energy import terminal and the inauguration of the first Rotterdam green hydrogen truck refueling station. The 10-year contract underscores Air Products' enduring vision to hasten the energy transition and foster a cleaner future.
Air Products and Chemicals, Inc. Price and Consensus
Air Products expressed that the 10-year PPA marks a significant stride in the company’s sustainability journey. The company is eager about its partnership with Eneco, seeing this collaboration as a means to further its objectives of decarbonizing the industrial gases sector.
Eneco emphasized the necessity for significantly more sustainably generated power to address the imperative of climate neutrality. Through this agreement, Air Products commits to using greener energy, thereby enhancing its sustainability and assisting its customers in various sectors to do the same. Eneco looks ahead to collaborating with Air Products in this endeavor.
Air Products has lost 22.4% in the past year compared with the industry’s 21.3% decline.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Air Products currently carries a Zacks Rank #4 (Sell).
The consensus estimate for CRS’ current fiscal year earnings is pegged at $3.97 per share, indicating a year-over-year surge of 248.3%. CRS' earnings beat the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 14.3%. The company’s shares have rallied 26.4% in the past year.
Eldorado has a projected earnings growth rate of 1,040% for the current year. The Zacks Consensus Estimate for EGO’s current-year earnings has moved north 10% in the past 60 days. EGO's earnings beat the consensus estimate in each of the last four quarters, delivering an average surprise of 496%. The company’s shares have rallied 31.1% in the past year.
The consensus estimate for HWKN’s current fiscal year earnings is pegged at $3.61 per share, indicating a year-over-year rise of 26%. The Zacks Consensus Estimate for HWKN’s current-year earnings has moved north 4.3% in the past 30 days. HWKN's earnings beat the consensus estimate in each of the last four quarters, delivering an average surprise of 30.6%. The company’s shares have rallied 59.6% in the past year.
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Air Products (APD), Eneco Unite for Solar Power in the Netherlands
Air Products and Chemicals, Inc. (APD - Free Report) , a global leader in industrial gases, announced a pivotal stride in its sustainability commitment with the signing of a Power Purchase Agreement (PPA) for renewable energy with Eneco. This strategic alliance underscores Air Products' dedication to mitigating climate impacts and procuring a substantial portion of its energy needs in the Netherlands from renewable sources.
In this 10-year PPA, Air Products will procure the majority of its current merchant business energy consumption for liquid nitrogen and oxygen production in the country from a dependable and renewable energy source. The renewable electricity will originate from the Vlagtwedde Solar PV farm in northeast Netherlands. This signed PPA will enable Air Products to offset emissions equivalent to the carbon footprint of approximately 45,000 households throughout the duration of the contract.
This commitment marks a milestone in the company's ongoing endeavors to lower its carbon footprint in the Netherlands and contribute to a more sustainable future. Last year, APD unveiled plans to construct Europe's largest blue hydrogen facility in the Port of Rotterdam. This initiative followed announcements of Air Products' intentions for a renewable energy import terminal and the inauguration of the first Rotterdam green hydrogen truck refueling station. The 10-year contract underscores Air Products' enduring vision to hasten the energy transition and foster a cleaner future.
Air Products and Chemicals, Inc. Price and Consensus
Air Products and Chemicals, Inc. price-consensus-chart | Air Products and Chemicals, Inc. Quote
Air Products expressed that the 10-year PPA marks a significant stride in the company’s sustainability journey. The company is eager about its partnership with Eneco, seeing this collaboration as a means to further its objectives of decarbonizing the industrial gases sector.
Eneco emphasized the necessity for significantly more sustainably generated power to address the imperative of climate neutrality. Through this agreement, Air Products commits to using greener energy, thereby enhancing its sustainability and assisting its customers in various sectors to do the same. Eneco looks ahead to collaborating with Air Products in this endeavor.
Air Products has lost 22.4% in the past year compared with the industry’s 21.3% decline.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Air Products currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the Basic Materials space are Carpenter Technology Corporation (CRS - Free Report) , sporting a Zacks Rank #1 (Strong Buy), and Eldorado Gold Corporation (EGO - Free Report) and Hawkins, Inc. (HWKN - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for CRS’ current fiscal year earnings is pegged at $3.97 per share, indicating a year-over-year surge of 248.3%. CRS' earnings beat the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 14.3%. The company’s shares have rallied 26.4% in the past year.
Eldorado has a projected earnings growth rate of 1,040% for the current year. The Zacks Consensus Estimate for EGO’s current-year earnings has moved north 10% in the past 60 days. EGO's earnings beat the consensus estimate in each of the last four quarters, delivering an average surprise of 496%. The company’s shares have rallied 31.1% in the past year.
The consensus estimate for HWKN’s current fiscal year earnings is pegged at $3.61 per share, indicating a year-over-year rise of 26%. The Zacks Consensus Estimate for HWKN’s current-year earnings has moved north 4.3% in the past 30 days. HWKN's earnings beat the consensus estimate in each of the last four quarters, delivering an average surprise of 30.6%. The company’s shares have rallied 59.6% in the past year.