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) Extends Contract With Barrick Goldstrike
Read MoreHide Full Article
Air Products & Chemicals Inc. (APD - Free Report) has extended its contract with Barrick Goldstrike. Per the agreement, Air Products will continue to maintain and operate Barrick Gold Corporation’s oxygen plant in Elko, NV.
In addition to operating the plant, Air Products plans to install new oxygen plant process equipment and technology to help Barrick increase gold production and minimize emissions and operating costs. Oxygen is used by Barrick for controlling temperature in its roaster process.
Air Products’ Industrial Gas Plant Support (IGPS) has been working with Barrick to implement various process improvement projects including main air compressor services and molecular sieve change-outs. Its IGPS organization is focused on providing equipment and spare parts and engineering and operating services across the globe. Air Products has designed, maintained and manufactured more than 2,200 facilities in more than 40 countries. The company also has extensive experience with customer-owned plants.
Shares of Air Products have moved up 6.6% in the last three months, underperforming the industry’s 8.7% growth.
Air Products, in August, increasedits adjusted earnings per share guidance for the full year. The company now expects adjusted earnings per share of $6.20-$6.25 (up from $6.00-$6.25 expected earlier), which at midpoint, represents a 10% increase over last year.
For fourth-quarter fiscal 2017, Air Products anticipates adjusted earnings per share from continuing operations of $1.65-$1.70, which at midpoint, also represents a 12% increase over last year.
Air Products is well placed to leverage the cyclical recovery in core industrial end-markets. The company has a strong project backlog. These projects are expected to be accretive to earnings and cash flow over the next few years. Acquisitions and new business wins are expected to continue to drive results.
Air Products also remains on track in delivering on its cost reduction programs, which should support its margins. The company is progressing well with its $600 million cost-cutting program.
Moreover, Air Products has significant amount of cash to invest in its core industrial gases business. The company expects to have roughly $8 billion to deploy in strategic, high-return opportunities (including acquisitions and large industrial gases projects) to create shareholders value over the next three years.
Air Products and Chemicals, Inc. Price and Consensus
Chemours has an expected long-term earnings growth rate of 15.5%.
FMC has an expected long-term earnings growth rate of 11.3%.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
Air Products (APD) Extends Contract With Barrick Goldstrike
Air Products & Chemicals Inc. (APD - Free Report) has extended its contract with Barrick Goldstrike. Per the agreement, Air Products will continue to maintain and operate Barrick Gold Corporation’s oxygen plant in Elko, NV.
In addition to operating the plant, Air Products plans to install new oxygen plant process equipment and technology to help Barrick increase gold production and minimize emissions and operating costs. Oxygen is used by Barrick for controlling temperature in its roaster process.
Air Products’ Industrial Gas Plant Support (IGPS) has been working with Barrick to implement various process improvement projects including main air compressor services and molecular sieve change-outs. Its IGPS organization is focused on providing equipment and spare parts and engineering and operating services across the globe. Air Products has designed, maintained and manufactured more than 2,200 facilities in more than 40 countries. The company also has extensive experience with customer-owned plants.
Shares of Air Products have moved up 6.6% in the last three months, underperforming the industry’s 8.7% growth.
Air Products, in August, increasedits adjusted earnings per share guidance for the full year. The company now expects adjusted earnings per share of $6.20-$6.25 (up from $6.00-$6.25 expected earlier), which at midpoint, represents a 10% increase over last year.
For fourth-quarter fiscal 2017, Air Products anticipates adjusted earnings per share from continuing operations of $1.65-$1.70, which at midpoint, also represents a 12% increase over last year.
Air Products is well placed to leverage the cyclical recovery in core industrial end-markets. The company has a strong project backlog. These projects are expected to be accretive to earnings and cash flow over the next few years. Acquisitions and new business wins are expected to continue to drive results.
Air Products also remains on track in delivering on its cost reduction programs, which should support its margins. The company is progressing well with its $600 million cost-cutting program.
Moreover, Air Products has significant amount of cash to invest in its core industrial gases business. The company expects to have roughly $8 billion to deploy in strategic, high-return opportunities (including acquisitions and large industrial gases projects) to create shareholders value over the next three years.
Air Products and Chemicals, Inc. Price and Consensus
Air Products and Chemicals, Inc. Price and Consensus | Air Products and Chemicals, Inc. Quote
Zacks Rank & Other Stocks to Consider
Air Products currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the basic materials space are The Chemours Company (CC - Free Report) and FMC Corporation (FMC - Free Report) . Both the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
Chemours has an expected long-term earnings growth rate of 15.5%.
FMC has an expected long-term earnings growth rate of 11.3%.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>