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Air Products (APD) LNG Technology Chosen for Rio Grande Project
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Air Products and Chemicals, Inc. (APD - Free Report) announced the signing of agreements with Bechtel Energy Inc. to supply its LNG process technology and equipment to NextDecade's Rio Grande LNG Phase 1 Project in the Port of Brownsville, TX.
The project will contain three natural gas liquefaction trains that will use Air Products' liquefaction technology to produce 17.6 million tons of LNG per annum.
Coil-wound heat exchangers (CWHEs) and the AP-C3MR LNG Process technology of APD were selected for their proven reliability in large-scale LNG production. Air Products' world-class LNG equipment manufacturing facility in Port Manatee, FL, will produce the CWHEs.
Air Products' proprietary LNG process technology and equipment are critical to meeting the world's expanding energy needs, and the demand for sustainable energy, process and cryogenically liquefy valuable natural gas for consumer and industrial use. Air Products has been manufacturing LNG heat exchangers for more than five decades that are currently used in more than 100 LNG trains in 20 countries across the world.
Shares of APD have gained 9.6% over the past year compared with the 6.6% rise of its industry.
Image Source: Zacks Investment Research
Air Products expects fiscal 2023 adjusted EPS of $11.40-$11.50, indicating 11-12% growth from the prior years reported number. For the fourth quarter of fiscal 2023, the company expects adjusted EPS of $3.04-$3.14, suggesting a rise of 7-10% from that reported in fourth-quarter fiscal 2022.
Air Products expects capital expenditure of $5-$5.5 billion for fiscal 2023.
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 PPG Industries Inc. (PPG - Free Report) , TimkenSteel Corporation and Carpenter Technology Corporation (CRS - Free Report) .
PPG, currently sporting a Zacks Rank #1 (Strong Buy), has an expected earnings growth rate of 20.8% for the current fiscal year. The Zacks Consensus Estimate for PPG's earnings for the current fiscal year has been revised 1.6% upward in the past 60 days. It delivered an earnings surprise of 7.3% each of the trailing four quarters, on average. PPG has gained 12.7% over a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
TimkenSteel currently carries a Zacks Rank #2 (Buy). The consensus estimate for TMST's current-year earnings has been revised 2.3% upward over the past 60 days. TimkenSteel’s earnings beat the Zacks Consensus Estimate in three of the last four quarters. It has a trailing four-quarter earnings surprise of 18.8%, on average. TMST shares have gained 26% in a year.
CRS, currently sporting a Zacks Rank #1, has a projected earnings growth rate of 198.11% for the current year. Its earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of 30.9%, on average. CRS shares have surged 74.3% in a year.
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Air Products (APD) LNG Technology Chosen for Rio Grande Project
Air Products and Chemicals, Inc. (APD - Free Report) announced the signing of agreements with Bechtel Energy Inc. to supply its LNG process technology and equipment to NextDecade's Rio Grande LNG Phase 1 Project in the Port of Brownsville, TX.
The project will contain three natural gas liquefaction trains that will use Air Products' liquefaction technology to produce 17.6 million tons of LNG per annum.
Coil-wound heat exchangers (CWHEs) and the AP-C3MR LNG Process technology of APD were selected for their proven reliability in large-scale LNG production. Air Products' world-class LNG equipment manufacturing facility in Port Manatee, FL, will produce the CWHEs.
Air Products' proprietary LNG process technology and equipment are critical to meeting the world's expanding energy needs, and the demand for sustainable energy, process and cryogenically liquefy valuable natural gas for consumer and industrial use. Air Products has been manufacturing LNG heat exchangers for more than five decades that are currently used in more than 100 LNG trains in 20 countries across the world.
Shares of APD have gained 9.6% over the past year compared with the 6.6% rise of its industry.
Image Source: Zacks Investment Research
Air Products expects fiscal 2023 adjusted EPS of $11.40-$11.50, indicating 11-12% growth from the prior years reported number. For the fourth quarter of fiscal 2023, the company expects adjusted EPS of $3.04-$3.14, suggesting a rise of 7-10% from that reported in fourth-quarter fiscal 2022.
Air Products expects capital expenditure of $5-$5.5 billion for fiscal 2023.
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 PPG Industries Inc. (PPG - Free Report) , TimkenSteel Corporation and Carpenter Technology Corporation (CRS - Free Report) .
PPG, currently sporting a Zacks Rank #1 (Strong Buy), has an expected earnings growth rate of 20.8% for the current fiscal year. The Zacks Consensus Estimate for PPG's earnings for the current fiscal year has been revised 1.6% upward in the past 60 days. It delivered an earnings surprise of 7.3% each of the trailing four quarters, on average. PPG has gained 12.7% over a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
TimkenSteel currently carries a Zacks Rank #2 (Buy). The consensus estimate for TMST's current-year earnings has been revised 2.3% upward over the past 60 days. TimkenSteel’s earnings beat the Zacks Consensus Estimate in three of the last four quarters. It has a trailing four-quarter earnings surprise of 18.8%, on average. TMST shares have gained 26% in a year.
CRS, currently sporting a Zacks Rank #1, has a projected earnings growth rate of 198.11% for the current year. Its earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of 30.9%, on average. CRS shares have surged 74.3% in a year.