We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Air Products' (APD) LNG Process to be Used for Nigeria Project
Read MoreHide Full Article
Air Products and Chemicals, Inc. (APD - Free Report) recently signed an agreement with SCD JV S.c.a.r.l, a joint venture (JV) of Saipem, Chiyoda and Daewoo, for the Nigeria LNG (“NLNG”) Train 7 project.
The project will consist of one complete LNG train and one combined liquefaction unit. Per the terms, Air Products will provide the main cryogenic heat exchangers (MCHEs) and the process technology for both liquefaction units to the JV. This will facilitate the manufacture of eight million tons of LNG in Nigeria annually for a major LNG production expansion at NLNG's present Bonny Island facility.
Previously, the company supplied the MCHEs and process technology for the first six trains for NLNG at Bonny Island, and all of them successfully continue production today.
Other than NLNG, the company will also be building LNG heat exchangers at its Port Manatee, FL facility.
Air Products is a renowned player in the production of LNG heat exchangers, and the technology is a key contributor to help meet the world's increasing energy needs through clean energy solutions. The company’s LNG technology, in use at some of the most remote locations globally, liquefies natural gas to make its shipping economical, and is eventually re-gasified for energy uses.
Air Products noted that the NLNG agreement reinforces its excellent customer service. The utilization of two of its additional heat exchangers by Train 7 is a testimony to that.
Air Product’s shares have declined 1.3% over the past year against the industry’s 29% rise. The company’s estimated earnings growth rate for the current year is pegged at 8.7%.
Image Source: Zacks Investment Research
In the second quarter, the company recorded adjusted earnings of $2.31 per share, which missed the Zacks Consensus Estimate of $2.39. It raked in net sales of $2,604.7 million, which increased 26% year over year and topped the Zacks Consensus Estimate of $2,562.8 million.
Air Products expects adjusted earnings per share of $8.95-$9.05 for fiscal 2021 and $2.44-$2.54 for the fourth quarter of fiscal 2021. The company expects capital spending of roughly $2.5 billion for the fiscal, excluding the Jazan transaction.
Air Products and Chemicals, Inc. Price and Consensus
Image: Bigstock
Air Products' (APD) LNG Process to be Used for Nigeria Project
Air Products and Chemicals, Inc. (APD - Free Report) recently signed an agreement with SCD JV S.c.a.r.l, a joint venture (JV) of Saipem, Chiyoda and Daewoo, for the Nigeria LNG (“NLNG”) Train 7 project.
The project will consist of one complete LNG train and one combined liquefaction unit. Per the terms, Air Products will provide the main cryogenic heat exchangers (MCHEs) and the process technology for both liquefaction units to the JV. This will facilitate the manufacture of eight million tons of LNG in Nigeria annually for a major LNG production expansion at NLNG's present Bonny Island facility.
Previously, the company supplied the MCHEs and process technology for the first six trains for NLNG at Bonny Island, and all of them successfully continue production today.
Other than NLNG, the company will also be building LNG heat exchangers at its Port Manatee, FL facility.
Air Products is a renowned player in the production of LNG heat exchangers, and the technology is a key contributor to help meet the world's increasing energy needs through clean energy solutions. The company’s LNG technology, in use at some of the most remote locations globally, liquefies natural gas to make its shipping economical, and is eventually re-gasified for energy uses.
Air Products noted that the NLNG agreement reinforces its excellent customer service. The utilization of two of its additional heat exchangers by Train 7 is a testimony to that.
Air Product’s shares have declined 1.3% over the past year against the industry’s 29% rise. The company’s estimated earnings growth rate for the current year is pegged at 8.7%.
Image Source: Zacks Investment Research
In the second quarter, the company recorded adjusted earnings of $2.31 per share, which missed the Zacks Consensus Estimate of $2.39. It raked in net sales of $2,604.7 million, which increased 26% year over year and topped the Zacks Consensus Estimate of $2,562.8 million.
Air Products expects adjusted earnings per share of $8.95-$9.05 for fiscal 2021 and $2.44-$2.54 for the fourth quarter of fiscal 2021. The company expects capital spending of roughly $2.5 billion for the fiscal, excluding the Jazan transaction.
Air Products and Chemicals, Inc. Price and Consensus
Air Products and Chemicals, Inc. price-consensus-chart | Air Products and Chemicals, Inc. Quote
Zacks Rank & Stocks to Consider
Currently, Air Products carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include LyondellBasell Industries N.V. (LYB - Free Report) and Avient Corporation (AVNT - Free Report) , both sporting a Zacks Rank #1 (Strong Buy) and Orion Engineered Carbons S.A (OEC - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
LyondellBasell has a projected earnings growth rate of 222.6% for the current year. The company’s shares have risen 42% over the past year.
Avient has a projected earnings growth rate of 65.3% for the current year. The company’s shares have surged 78.1% over the past year.
Orion has a projected earnings growth rate of 79.8% for the current year. The company’s shares have grown 39.1% over the past year.