Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals. It also designs and manufactures equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction, and liquid helium and liquid hydrogen transport and storage. Air Products and Chemicals, Inc. has a strategic collaboration with Baker Hughes Company to develop hydrogen compression systems. The company was founded in 1940 and is headquartered in Allentown, Pennsylvania.
IPO Year:
Exchange: NYSE
Website: airproducts.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/18/2024 | $375.00 | Neutral → Buy | UBS |
| 10/25/2024 | $330.00 | Sell → Neutral | Redburn Atlantic |
| 10/7/2024 | $295.00 → $364.00 | Hold → Buy | Jefferies |
| 10/7/2024 | $336.00 | Hold → Buy | Vertical Research |
| 10/7/2024 | $305.00 → $365.00 | In-line → Outperform | Evercore ISI |
| 7/22/2024 | Buy → Hold | Deutsche Bank | |
| 3/1/2024 | $279.00 | Outperform | Wolfe Research |
| 2/26/2024 | Buy → Hold | Argus | |
| 2/16/2024 | $345.00 → $305.00 | Outperform | TD Cowen |
| 2/15/2024 | $264.00 | Neutral → Buy | BofA Securities |
LEHIGH VALLEY, Pa., July 16, 2024 /PRNewswire/ -- Air Products (NYSE:APD) today announced that Eric Guter will assume the role of Vice President, Investor Relations effective September 30, 2024 succeeding Sidd Manjeshwar who will be leaving the Company to pursue other opportunities. The two will work closely together over the coming months to ensure a smooth and seamless transition of the Company's Investor Relations responsibilities. Guter will report to Melissa Schaeffer, Air Products' Chief Financial Officer. "I want to thank Sidd for his significant contributions to Air Products and for continuing to build strong relationships with investors and analysts over the past few years," said S
Global gas processing executive to lead the company's commercialization of innovative Direct Air Capture technology, targeting the removal of 500 million tons of CO2 by 2040. Dr. Mary Haas has been appointed CEO of Sustaera Inc., a direct air capture technology company funded by Breakthrough Energy Ventures and the Grantham Foundation. The appointment is effective immediately, with Dr Haas also serving as a member of the company's Board of Directors Dr. Haas joins Sustaera from Air Products and Chemicals (NYSE:APD) where she most recently served as Executive Director and General Manager of the company's $200 MM Global Equipment Division. Her accountability spanned all aspects of Strategy,
LEHIGH VALLEY, Pa., Dec. 1, 2020 /PRNewswire/ -- Air Products (NYSE:APD) today announced that Brian Galovich has joined Air Products as senior vice president and chief information officer (CIO). Reporting to Air Products' Chairman, President and Chief Executive Officer Seifi Ghasemi, Galovich has responsibility for the strategic oversight of technology-driven solutions and the integration of technologies, people, information, and processes which deliver value and operational efficiencies to Air Products' more than 19,000 employees and many customers around the world. Brian Galovich, Senior Vice President and Chief Information Officer, Air Products Galovich brings m
UBS upgraded Air Products from Neutral to Buy and set a new price target of $375.00
Redburn Atlantic upgraded Air Products from Sell to Neutral and set a new price target of $330.00
Jefferies upgraded Air Products from Hold to Buy and set a new price target of $364.00 from $295.00 previously
Vertical Research upgraded Air Products from Hold to Buy and set a new price target of $336.00
Evercore ISI upgraded Air Products from In-line to Outperform and set a new price target of $365.00 from $305.00 previously
Deutsche Bank downgraded Air Products from Buy to Hold
Wolfe Research initiated coverage of Air Products with a rating of Outperform and set a new price target of $279.00
Argus downgraded Air Products from Buy to Hold
TD Cowen reiterated coverage of Air Products with a rating of Outperform and set a new price target of $305.00 from $345.00 previously
BofA Securities upgraded Air Products from Neutral to Buy and set a new price target of $264.00
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LEHIGH VALLEY, Pa., Nov. 21, 2024 /PRNewswire/ -- The Board of Directors of Air Products (NYSE:APD) today declared a quarterly dividend of $1.77 per share of common stock. The dividend is payable on February 10, 2025 to shareholders of record at the close of business on January 2, 2025. About Air Products Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets and generating a cleaner future. The Company supplies essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing
LEHIGH VALLEY, Pa., Nov. 19, 2024 /PRNewswire/ -- Air Products (NYSE:APD) today issued the following statement regarding the nomination of director candidates by Mantle Ridge for election to the Air Products Board of Directors at the Company's 2025 Annual Meeting: Air Products' Board of Directors has received Mantle Ridge's nomination notice and director nominees. The Board will present its formal recommendation regarding director nominees in the Company's proxy materials to be filed with the Securities and Exchange Commission in due course. Air Products shareholders are not required to take any action at this time. About Air Products Air Products (NYSE:APD) is a world-leading industrial ga
Bob Patel and Alfred Stern, seasoned executives with experience leading major publicly listed industrial companies, to stand for election at Air Products' 2025 Annual Meeting of ShareholdersPatel, former Chief Executive Officer (CEO) of W.R. Grace and LyondellBasell and former President of Standard Industries, brings 35 years of global chemicals and materials industry experience in senior manufacturing, commercial, and management roles, and on public company boards, with extensive experience leading large-scale, global company transformationsStern, CEO and Executive Board Chairman of the OMV Group, Supervisory Board Chairman of OMV Petrom, and former CEO of Borealis, has 29 years of proven e
Fiscal Year 2024 (comparisons versus prior year): GAAP EPS# of $17.24, up 67 percent; GAAP net income of $3.9 billion, up 65 percent; and GAAP net income margin of 31.9 percent, up 1,330 basis pointsAdjusted EPS* of $12.43, up eight percent; adjusted EBITDA* of $5.0 billion, up seven percent; and adjusted EBITDA margin* of 41.7 percent, up 440 basis pointsQ4 FY24 (comparisons versus prior year): GAAP EPS# of $8.81, up 186 percent; GAAP net income of $2.0 billion, up 181 percent; and GAAP net income margin of 61.2 percent, up 3,940 basis pointsAdjusted EPS* of $3.56, up 13 percent; adjusted EBITDA* of $1.4 billion, up 12 percent; and adjusted EBITDA margin* of 44.1 percent, up 460 basis point
LEHIGH VALLEY, Pa., Oct. 14, 2024 /PRNewswire/ -- Air Products (NYSE:APD) will release its fiscal 2024 fourth quarter financial results prior to market open on Thursday, November 7, 2024 and will review these results in a teleconference at 8:30 a.m. ET. The teleconference will be open to the public and the media in listen-only mode by telephone and Internet broadcast. Live teleconference: 773-305-6853Passcode: 9129758Internet broadcast/slides: Available on the Event Details page on Air Products' Investor Relations website. Internet replay: Available on the Event Details page on Air Products' Investor Relations website. About Air Products Air Products (NYSE:APD) is a world-leading industria
Reiterates the Need for the Board to Engage in Proper Succession Planning and Insist on a More Rigorous Capital Allocation Policy NEW YORK, Oct. 10, 2024 /PRNewswire/ -- The D. E. Shaw group, a global investment and technology development firm with more than $60 billion in investment capital and a history of working with companies to help build long-term value, today sent an open letter to the Board of Directors of Air Products and Chemicals, Inc. (NYSE:APD) (the "Company" or "APD") calling for changes aimed at addressing the longstanding underperformance in its shares and deficiencies in its governance and capital allocation policies. Funds advised by D. E. Shaw & Co., L.P. are shareholder
Strategic divestiture reflects Air Products' commitment to its industrial gases and clean hydrogen growth strategyAll related assets, intellectual property, manufacturing capability, and personnel have successfully transferred to HoneywellLEHIGH VALLEY, Pa., Sept. 30, 2024 /PRNewswire/ -- Air Products (NYSE:APD) today announced it has completed the sale of its liquefied natural gas (LNG) process technology and equipment business to Honeywell for $1.81 billion in cash. First announced in July 2024, closing conditions for the transaction have been fully met and regulatory approvals received.
TAIPEI, Taiwan , Aug. 28, 2024 /PRNewswire/ -- Air Products (NYSE:APD), a world-leading industrial gases company, today announced Air Products San Fu Co. Ltd. has signed a 10-year Power Purchase Agreement (PPA) for solar electricity with Tatung Forever Energy, a subsidiary of Tatung Company, one of Taiwan's leading conglomerates. The strategic renewable energy agreement underscores Air Products' long-term commitment to address climate change and support the decarbonization and sustainable development of Taiwan's industrial gases sector. Under the PPA, which begins in the fourth quarter of 2024, Air Products San Fu will source a portion of its energy consumption for industrial gases producti
LEHIGH VALLEY, Pa., Aug. 28, 2024 /PRNewswire/ -- Air Products today announced that Sidd Manjeshwar, vice president, Investor Relations, will speak at Jefferies Industrials Conference on Wednesday, September 4, 2024 at 8:05 a.m. US ET. Access to the session is available via Air Products' Investor Relations Event Details website. About Air ProductsAir Products (NYSE: APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products' base business provides essential industrial gases, related equipment and applications expertise to customers in
Latest Report Discusses Company's Sustainability Performance and Progress, Setting of Additional Goals, and Efforts to Accelerate the Clean Energy Transition LEHIGH VALLEY, Pa., Aug. 8, 2024 /PRNewswire/ -- Air Products (NYSE: APD) published today its 2024 Sustainability Report – "Generating a Cleaner Future" – detailing progress against its existing sustainability goals and announcing new ones; highlighting its clean hydrogen megaprojects around the world; and showcasing how its industrial gases and applications expertise enable customers to improve productivity and reduce environmental impact. The Company's latest Sustainability Report also provides stakeholders with economic, environmen
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LEHIGH VALLEY, Pa., Nov. 21, 2024 /PRNewswire/ -- The Board of Directors of Air Products (NYSE:APD) today declared a quarterly dividend of $1.77 per share of common stock. The dividend is payable on February 10, 2025 to shareholders of record at the close of business on January 2, 2025. About Air Products Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets and generating a cleaner future. The Company supplies essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing
Fiscal Year 2024 (comparisons versus prior year): GAAP EPS# of $17.24, up 67 percent; GAAP net income of $3.9 billion, up 65 percent; and GAAP net income margin of 31.9 percent, up 1,330 basis pointsAdjusted EPS* of $12.43, up eight percent; adjusted EBITDA* of $5.0 billion, up seven percent; and adjusted EBITDA margin* of 41.7 percent, up 440 basis pointsQ4 FY24 (comparisons versus prior year): GAAP EPS# of $8.81, up 186 percent; GAAP net income of $2.0 billion, up 181 percent; and GAAP net income margin of 61.2 percent, up 3,940 basis pointsAdjusted EPS* of $3.56, up 13 percent; adjusted EBITDA* of $1.4 billion, up 12 percent; and adjusted EBITDA margin* of 44.1 percent, up 460 basis point
Q3 FY24 (comparisons versus prior year): GAAP EPS# of $3.13, up 17 percent; GAAP net income of $709 million, up 16 percent; and GAAP net income margin of 23.7 percent, up 360 basis pointsAdjusted EPS* of $3.20, up seven percent; adjusted EBITDA* of $1.3 billion, up five percent; and adjusted EBITDA margin* of 42.4 percent, up 260 basis pointsRecent Highlights Clean hydrogen / energy transition Signed a 15-year agreement to supply 70,000 tons of green hydrogen annually starting in 2030, helping to decarbonize TotalEnergies' Northern European refineries and avoid approximately 700,000 tons of CO₂ each yearAnnounced agreement to divest Air Products' liquefied natural gas (LNG) process technolog
LEHIGH VALLEY, Pa., July 18, 2024 /PRNewswire/ -- The Board of Directors of Air Products (NYSE:APD) today declared a quarterly dividend of $1.77 per share of common stock. The dividend is payable on November 12, 2024 to shareholders of record at the close of business on October 1, 2024. About Air Products Air Products (NYSE: APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products' base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining,
LEHIGH VALLEY, Pa., May 17, 2024 /PRNewswire/ -- The Board of Directors of Air Products (NYSE:APD) today declared a quarterly dividend of $1.77 per share of common stock. The dividend is payable on August 12, 2024 to shareholders of record at the close of business on July 1, 2024. About Air Products Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products' base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chem
Q2 FY24 (comparisons versus prior year): GAAP EPS# of $2.57, up 30 percent; GAAP net income of $581 million, up 29 percent; and GAAP net income margin of 19.8 percent, up 570 basis pointsAdjusted EPS* of $2.85, up four percent; adjusted EBITDA* of $1.2 billion, up four percent; and adjusted EBITDA margin* of 40.9 percent, up 490 basis pointsRecent Highlights Listed among Barron's 100 Most Sustainable Companies for the sixth consecutive yearContinued demonstrating leadership in hydrogen fueling, announcing plans for new, multi-modal stations in Duisburg and Meckenheim, Germany, and a network of stations between Edmonton and Calgary, Alberta, Canada, to fuel heavy-duty and long-range vehiclesI
Q1 FY24 (comparisons versus prior year): GAAP EPS# of $2.73, up six percent; GAAP net income of $622 million, up six percent; and GAAP net income margin of 20.7 percent, up 230 basis pointsAdjusted EPS* of $2.82, up seven percent; adjusted EBITDA* of $1.2 billion, up eight percent; and adjusted EBITDA margin* of 39.2 percent, up 510 basis pointsRecent Highlights Increased quarterly dividend to $1.77 per share in January, the 42nd consecutive year of increasesGuidance Updated fiscal 2024 full-year adjusted EPS guidance* of $12.20 to $12.50, up six to nine percent over prior year adjusted EPS*; fiscal 2024 second quarter adjusted EPS guidance* of $2.60 to $2.75Continue to expect fiscal year 20
Marks 42nd Consecutive Year of Quarterly Dividend Increases on Company's Common Stock LEHIGH VALLEY, Pa., Jan. 25, 2024 /PRNewswire/ -- The Board of Directors of Air Products (NYSE:APD) has increased the quarterly dividend on the Company's common stock to $1.77 per share. This marks the 42nd consecutive year the Company has increased its dividend payment. The dividend is payable on May 13, 2024 to shareholders of record at the close of business on April 1, 2024. Air Products Chairman, President and Chief Executive Officer Seifi Ghasemi said, "We remain committed to striking the right balance of returning cash to our shareholders and investing in our growth opportunities. We expect to retur
LEHIGH VALLEY, Pa., Nov. 15, 2023 /PRNewswire/ -- The Board of Directors of Air Products (NYSE:APD) today declared a quarterly dividend of $1.75 per share of common stock. The dividend is payable on February 12, 2024 to shareholders of record at the close of business on January 2, 2024. About Air ProductsAir Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products' base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining,
LEHIGH VALLEY, Pa., Aug. 3, 2023 /PRNewswire/ -- Q3 FY23 (comparisons versus prior year): GAAP EPS# of $2.67, up two percent; GAAP net income of $611 million, up four percent; and GAAP net income margin of 20.1 percent, up 170 basis pointsAdjusted EPS* of $2.98, up 16 percent; adjusted EBITDA* of $1.2 billion, up 12 percent; and adjusted EBITDA margin* of 39.8 percent, up 590 basis pointsHigher pricing and volumes drove improved results in all regional segmentsRecent Highlights Completed financial close on the world's largest green hydrogen production facility with equal joint venture partners, ACWA Power and NEOM, in May; Air Products is the exclusive off-taker and will absorb the full prod
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Deutsche Bank analyst David Begleiter downgrades Air Products & Chemicals (NYSE:APD) from Buy to Hold and lowers the price target from $310 to $280.
Honeywell International Inc. (NASDAQ:HON) shares are trading slightly higher after United Airlines Holdings, Inc. (NASDAQ:UAL) chose the company to supply a variety of avionics for its upcoming 737 MAX aircraft over the next decade. This includes the industry’s only 3D weather radar, new 25-hour flight data recorders, and advanced traffic avoidance systems. United Airlines initially chose Honeywell avionics in 2018 for 161 737 MAX aircraft. This new agreement further reinforces Honeywell’s reputation for delivering top-tier aerospace technology. Heath Patrick, President, Americas Aftermarket, Honeywell Aerospace Technologies said, “We are proud to continue our long-standing relat
That strategy is to optimize and grow Air Products' core industrial gases business while advancing the energy transition through clean hydrogen.
New ASUs to Improve Productivity, Offer Sustainability Efficiencies and Operational Flexibility for Established and Growing Merchant MarketLEHIGH VALLEY, Pa., July 17, 2024 /PRNewswire/ -- Air Products (NYSE:APD), a world-leading industrial gases company, today announced two projects to enhance the sustainability, productivity, and operational flexibility of its base industrial gas business, as well as continuing commitment to the merchant industrial gas market. Air Products will construct two new air separation units (ASU) at its existing Conyers, Georgia and Reidsville, North Carolina locations. Both new ASUs will replace older units, provide additional capacity at the locations, and are p
On CNBC's “Mad Money Lightning Round,” Jim Cramer said Fortinet, Inc. (NASDAQ:FTNT) is not his favorite. He added that we own Palo Alto Networks, Inc. (NASDAQ:PANW) for the charitable trust. On July 11, Barclays analyst Saket Kalia maintained Fortinet with an Equal-Weight and lowered the price target from $75 to $70. When asked about Air Products and Chemicals, Inc. (NYSE:APD), Cramer said Linde plc (NASDAQ:LIN) is a “much better run company, and that's why Air Products isn't doing as well, and Linde's doing spectacularly.” On July 16, Air Products named Eric Guter as vice president of Investor Relations effective Sept. 30 succeeding Sidd Manjeshwar. Sarepta Therapeutics, Inc. (N
Air Products and Chemicals, Inc. (NYSE:APD) shares are trading higher today. Aramco has agreed to acquire a 50% stake in its Blue Hydrogen Industrial Gases Company (BHIG). In particular, Saudi Arabia’s largest oil company, Aramco, inked definitive deals to acquire a stake in BHIG, which is based in Jubail and a subsidiary of Air Products Qudra (APQ). After the transaction, Aramco and APQ, a joint venture of Air Products and Qudra Energy, will each own 50% of BHIG. The transaction is contingent on standard closing conditions and includes provisions for Aramco to secure hydrogen and nitrogen offtake options. Aramco is expanding its lower-carbon hydrogen business and alternative ene
- Reuters
Citigroup analyst Patrick Cunningham maintains Air Products & Chemicals (NYSE:APD) with a Buy and raises the price target from $280 to $305.
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