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Air Products (APD) to Build New Refueling Stations in California
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Air Products & Chemicals Inc. (APD - Free Report) has revealed plans to develop a network of permanent, commercial-scale, multi-modal hydrogen refueling stations from Northern California to Southern California. The company made the announcement at the California Hydrogen Convention at the Los Angeles Convention Center.
California is a leader in the energy transition and a first-mover in making zero-emission, heavy-duty transportation in the United States. As the world's largest provider of hydrogen, Air Products is committed to investing $15 billion by 2027 in renewable energy megaprojects around the world. Working together, energy companies, vehicle manufacturers and governments can speed up the energy transition and create a cleaner future for all, APD noted.
The permanent, multi-modal hydrogen filling stations will be equipped to handle heavy-duty vehicles, such as commercial and municipal trucks and buses, as well as light-duty hydrogen fuel cell vehicles. Each cutting-edge, high-capacity, high-reliability station will be capable of fueling up to 200 heavy-duty trucks or 2,000 cars every day. These stations will be a significant driver in California's transition to a zero-emissions transportation future.
Air Products' California pipeline network provided hydrogen to the nation's first pipeline-fed hydrogen filling station in Torrance, CA, in 2011. Air Products now runs six hydrogen refueling stations in southern California. The new stations will provide improved fuelling technology capabilities, including significantly increased capacity, numerous fueling dispensers and servicing for both heavy- and light-duty vehicles.
The announcement of the hydrogen refueling station network follows Air Products' recent declaration of plans to establish a network of multi-modal hydrogen refueling stations connecting Edmonton and Calgary, Alberta, Canada.
Shares of APD have lost 4.7% over the past year against a 2.8% rise of its industry.
Image Source: Zacks Investment Research
Air Products, on its fiscal second-quarter call, said that it continues to expect fiscal 2024 adjusted earnings per share (EPS) of $12.20-$12.50, indicating 6-9% growth from the prior year’s adjusted EPS. For the third quarter of fiscal 2024, the company expects adjusted EPS in the range of $3-$3.05.
Air Products and Chemicals, Inc. Price and Consensus
Better-ranked stocks in the basic materials space include ATI Inc. (ATI - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Ecolab Inc. (ECL - Free Report) .
ATI carries a Zacks Rank #2 (Buy). ATI beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 8.3%. The company’s shares have soared 77% in the past year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Carpenter Technology currently carries a Zacks Rank #1. CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.1%. The company’s shares have soared 143.2%% in the past year.
The Zacks Consensus Estimate for Ecolab’s current-year earnings is pegged at $6.56 per share, indicating a year-over-year rise of 25.9%. ECL, a Zacks Rank #2 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 1.3%. The company’s shares have rallied roughly 38.6% in the past year.
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Air Products (APD) to Build New Refueling Stations in California
Air Products & Chemicals Inc. (APD - Free Report) has revealed plans to develop a network of permanent, commercial-scale, multi-modal hydrogen refueling stations from Northern California to Southern California. The company made the announcement at the California Hydrogen Convention at the Los Angeles Convention Center.
California is a leader in the energy transition and a first-mover in making zero-emission, heavy-duty transportation in the United States. As the world's largest provider of hydrogen, Air Products is committed to investing $15 billion by 2027 in renewable energy megaprojects around the world. Working together, energy companies, vehicle manufacturers and governments can speed up the energy transition and create a cleaner future for all, APD noted.
The permanent, multi-modal hydrogen filling stations will be equipped to handle heavy-duty vehicles, such as commercial and municipal trucks and buses, as well as light-duty hydrogen fuel cell vehicles. Each cutting-edge, high-capacity, high-reliability station will be capable of fueling up to 200 heavy-duty trucks or 2,000 cars every day. These stations will be a significant driver in California's transition to a zero-emissions transportation future.
Air Products' California pipeline network provided hydrogen to the nation's first pipeline-fed hydrogen filling station in Torrance, CA, in 2011. Air Products now runs six hydrogen refueling stations in southern California. The new stations will provide improved fuelling technology capabilities, including significantly increased capacity, numerous fueling dispensers and servicing for both heavy- and light-duty vehicles.
The announcement of the hydrogen refueling station network follows Air Products' recent declaration of plans to establish a network of multi-modal hydrogen refueling stations connecting Edmonton and Calgary, Alberta, Canada.
Shares of APD have lost 4.7% over the past year against a 2.8% rise of its industry.
Image Source: Zacks Investment Research
Air Products, on its fiscal second-quarter call, said that it continues to expect fiscal 2024 adjusted earnings per share (EPS) of $12.20-$12.50, indicating 6-9% growth from the prior year’s adjusted EPS. For the third quarter of fiscal 2024, the company expects adjusted EPS in the range of $3-$3.05.
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
APD currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include ATI Inc. (ATI - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Ecolab Inc. (ECL - Free Report) .
ATI carries a Zacks Rank #2 (Buy). ATI beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 8.3%. The company’s shares have soared 77% in the past year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Carpenter Technology currently carries a Zacks Rank #1. CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.1%. The company’s shares have soared 143.2%% in the past year.
The Zacks Consensus Estimate for Ecolab’s current-year earnings is pegged at $6.56 per share, indicating a year-over-year rise of 25.9%. ECL, a Zacks Rank #2 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 1.3%. The company’s shares have rallied roughly 38.6% in the past year.