Air Products and Chemicals, Inc. (APD - Free Report) will display its gas and equipment solutions for better seafood production, at Seafood Expo, to be held in Boston, MA from March 17-19. The company will showcase the Freshline DM and Freshline QF+ freezers, the latest addition to its Freshline MP tunnel freezer family. These solutions are designed to provide efficient freezing of small IQF (Individually Quick Frozen) products like scallops and shrimp.
Notably, Air Products provides nitrogen and CO2-enabled chilling and freezing equipment, including tunnel, spiral and batch freezers, as well as nitrogen immersion technology. Additionally, the company offers wastewater treatment, gas solutions for aquaculture enhancement and modified atmosphere packaging (MAP).
Air Product’s Freshline MP tunnel freezer offers economy, efficiency and hygiene, along with an optional remote monitoring system, for troubleshooting. The MP tunnel freezer facilitates efficient freezing and cooling of seafood products within minutes, using the extremely cold temperatures of nitrogen and CO2. This rapid freeze results in smaller products weight loss, and ensures that the quality and moisture are maintained for a longer period.
Being a leader in cryogenic technology applications, Air Products tests consumers’ products on production-scale equipment to determine the viability of using cryogenics in their processes, analyze its cost and benefits, and optimize food processing operations. In addition to these, the company offers engineering services, on-site testing capability, and reviews processing to reduce cryogen consumption.
Air Products has been supplying equipment, technology and gases to the food industry for more than six decades. The company has Freshline solutions for every type of manufacturer and food processor.
Coming to the price performance, Air Product’s shares have appreciated 8.9% over the past year, outperforming the industry’s loss of 16.4%.
In first-quarter fiscal 2019 (ended Dec 31, 2018), the company recorded adjusted earnings per share (EPS) of $1.86, up 4% from the year-ago quarter’s earnings of $1.79. However, the figure trailed the Zacks Consensus Estimate of $1.87.
The company continues to expect adjusted EPS in the range of $8.05-$8.30 per share for fiscal 2019, reflecting a year-over-year increase of 10% at the mid-point.
Moreover, adjusted EPS for second-quarter fiscal 2019 is projected at $1.80-$1.90, up 8% at the mid-point, year over year. The company anticipates capital expenditure of $2.3-$2.5 billion for fiscal 2019.
Air Products and Chemicals, Inc. Price and Consensus
Zacks Rank and Stocks to Consider
Air Products currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the Basic Materials sector are Ingevity Corporation (NGVT - Free Report) , Innospec Inc. (IOSP - Free Report) and Materion Corporation (MTRN - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Ingevity has an expected earnings growth rate of 17.9% for 2019. The company’s shares have rallied 44.0%, over the past year.
Innospec has a projected earnings growth rate of 3.5% for the current year. The stock has appreciated 19.1% in a year’s time.
Materion has an estimated earnings growth rate of 12.6% for 2019. The company’s shares have gained 8.8%, in the past year.
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