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Air Products Signs PPA With Tatung for Solar Electricity in Taiwan
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Air Products & Chemicals Inc. (APD - Free Report) stated that Air Products San Fu Co. Ltd. has inked a 10-year Power Purchase Agreement (PPA) for solar electricity with Tatung Forever Energy, a subsidiary of Tatung Company, one of Taiwan's top conglomerates. The renewable energy agreement demonstrates Air Products' long-term commitment to addressing climate change and promoting decarbonization and sustainable growth in Taiwan's industrial gases sector.
Under the PPA, which takes effect in the fourth quarter of 2024, Air Products San Fu will source a portion of its energy demand for industrial gas production from a dependable and renewable energy source. Over the course of the deal, renewable electricity will allow Air Products San Fu to avoid carbon dioxide (CO2) emissions comparable to the electricity-related emissions from more than 80,000 Taiwanese households.
This partnership will allow Air Products to lower its environmental footprint and assist customers in diverse sectors in reaching their sustainability goals.
Air Products has been serving the Taiwan market through Air Products San Fu for more than 70 years, establishing dominant locations in key science industry parks with robust pipeline networks to cater to its semiconductor and TFT-LCD customers. The company has more than 60 manufacturing sites that serve a variety of markets, including metal fabrication, glass, electronics, semiconductors, flat panel displays and petrochemicals. Air Products San Fu is the first industrial gas firm in Taiwan to receive ISO9002, ISO14000 and ISO17034 certifications.
Shares of Air Products have lost 5.4% over the past year compared with a 7.9% decline of its industry.
Image Source: Zacks Investment Research
Air Products, on its fiscal third-quarter call, maintained its fiscal 2024 full-year adjusted EPS projection of $12.20 to $12.50, suggesting a 6-9% increase from the previous year. The company’s adjusted EPS guidance for the fiscal fourth quarter is $3.33-$3.63. Air Products expects $5 billion to $5.5 billion in capital expenditures for fiscal 2024.
Air Products and Chemicals, Inc. Price and Consensus
Better-ranked stocks in the basic materials space include Carpenter Technology Corporation (CRS - Free Report) , Eldorado Gold Corporation (EGO - Free Report) and Newmont Corporation (NEM - Free Report) .
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.9%. The company's shares have soared 141.4% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Eldorado’s current-year earnings is pegged at $1.32 per share, indicating a year-over-year rise of 131.6%. EGO, a Zacks Rank #1 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.3%. The company's shares have rallied roughly 92.6% in the past year.
The Zacks Consensus Estimate for Newmont’s current-year earnings is pegged at $2.82, indicating a rise of 75% from the year-ago levels. The consensus mark for NEM’s earnings has increased 14% in the past 60 days. NEM, a Zacks Rank #1 stock, has gained nearly 33.4% in the past year.
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Air Products Signs PPA With Tatung for Solar Electricity in Taiwan
Air Products & Chemicals Inc. (APD - Free Report) stated that Air Products San Fu Co. Ltd. has inked a 10-year Power Purchase Agreement (PPA) for solar electricity with Tatung Forever Energy, a subsidiary of Tatung Company, one of Taiwan's top conglomerates. The renewable energy agreement demonstrates Air Products' long-term commitment to addressing climate change and promoting decarbonization and sustainable growth in Taiwan's industrial gases sector.
Under the PPA, which takes effect in the fourth quarter of 2024, Air Products San Fu will source a portion of its energy demand for industrial gas production from a dependable and renewable energy source. Over the course of the deal, renewable electricity will allow Air Products San Fu to avoid carbon dioxide (CO2) emissions comparable to the electricity-related emissions from more than 80,000 Taiwanese households.
This partnership will allow Air Products to lower its environmental footprint and assist customers in diverse sectors in reaching their sustainability goals.
Air Products has been serving the Taiwan market through Air Products San Fu for more than 70 years, establishing dominant locations in key science industry parks with robust pipeline networks to cater to its semiconductor and TFT-LCD customers. The company has more than 60 manufacturing sites that serve a variety of markets, including metal fabrication, glass, electronics, semiconductors, flat panel displays and petrochemicals. Air Products San Fu is the first industrial gas firm in Taiwan to receive ISO9002, ISO14000 and ISO17034 certifications.
Shares of Air Products have lost 5.4% over the past year compared with a 7.9% decline of its industry.
Image Source: Zacks Investment Research
Air Products, on its fiscal third-quarter call, maintained its fiscal 2024 full-year adjusted EPS projection of $12.20 to $12.50, suggesting a 6-9% increase from the previous year. The company’s adjusted EPS guidance for the fiscal fourth quarter is $3.33-$3.63. Air Products expects $5 billion to $5.5 billion in capital expenditures for fiscal 2024.
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 Carpenter Technology Corporation (CRS - Free Report) , Eldorado Gold Corporation (EGO - Free Report) and Newmont Corporation (NEM - Free Report) .
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.9%. The company's shares have soared 141.4% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Eldorado’s current-year earnings is pegged at $1.32 per share, indicating a year-over-year rise of 131.6%. EGO, a Zacks Rank #1 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.3%. The company's shares have rallied roughly 92.6% in the past year.
The Zacks Consensus Estimate for Newmont’s current-year earnings is pegged at $2.82, indicating a rise of 75% from the year-ago levels. The consensus mark for NEM’s earnings has increased 14% in the past 60 days. NEM, a Zacks Rank #1 stock, has gained nearly 33.4% in the past year.