Air Products and Chemicals (APD) came out with quarterly earnings of $3.56 per share, beating the Zacks Consensus Estimate of $3.44 per share. This compares to earnings of $3.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.49%. A quarter ago, it was expected that this seller of gases for industrial, medical and other uses would post earnings of $3.04 per share when it actually produced earnings of $3.20, delivering a surp ...

Exhibit 99.1 News Release Air Products Reports Fiscal 2024 Fourth Quarter GAAP EPS of $8.81 and Adjusted EPS of $3.56 Fiscal Year 2024 (comparisons versus prior year): # • GAAP EPS of $17.24, up 67 percent; GAAP net income of $3.9 billion, up 65 percent; and GAAP net income margin of 31.9 percent, up 1,330 basis points • Adjusted EPS* of $12.43, up eight percent; adjusted EBITDA* of $5.0 billion, up seven percent; and adjusted EBITDA margin* of 41.7 percent, up 440 basis points Q4 FY24 (comparisons versus p ...

Long-Term Focussed In-Depth Fundamental Analysis.Former Associate at a $10 billion hedge fund, with 15 years of professional experience in equity markets. Holds a First-Class Honours degree in Financial Economics from the University of London and is a CFA Level III candidate.An avid reader and a Berkshire Hathaway buff.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrot ...

HANOVER, GERMANY - APRIL 17: The logo of Green Hydrogen is seen at the 2023 Hannover Messe ... [+] industrial trade fair on April 17, 2023 in Hanover, Germany. Over 4,000 companies, primarily from the energy and engineering sectors, are exhibiting at the fair, with an emphasis on digitalization, connectivity and climate neutrality. (Photo by Alexander Koerner/Getty Images) Getty Images A growing controversy over the ESG-driven capital allocation strategies of industrial gas provider Air Products illustrates ...

Company Overview - Air Products and Chemicals is an industrial gases company focused on energy, environmental, and emerging markets, providing essential industrial gases and related equipment across various industries [1] - The company operates in approximately 50 countries and is involved in clean hydrogen projects to support the transition to low- and zero-carbon energy [1] Business Model and Stability - Air Products' industrial gas business is characterized as extremely stable and low risk, functioning similarly to a risk-free, inflation-protected bond [3] - The company enters into long-term "take or pay" contracts with customers, achieving renewal rates exceeding 95%, which provides a stable revenue stream [3] - The business model is immune to economic cycles, with contracts that are inflation-protected and significant barriers to entry in the oligopolistic industry [3] Recent Strategic Shifts - The company has shifted focus from its core industrial gas business to more speculative investments in clean hydrogen projects, missing out on industry consolidation [4] - Air Products plans to invest nearly $12 billion in five clean hydrogen projects, with over 80% of project capacity currently uncontracted [4][6] - This shift has led to a significant increase in capital expenditures as a percentage of sales, which has more than doubled over the past five years [6] Financial Performance - Air Products' free cash flow conversion has turned negative, contrasting with peers that average 92% since 2016 [6] - The company's return on capital employed is declining compared to peers, and it has underperformed relative to benchmarks over the past decade, trading at a 20% discount [6] Activist Engagement - D.E. Shaw has taken a $1 billion stake in Air Products and has publicly engaged with the company to propose a seven-point plan aimed at improving value [7][8] - The plan includes urging the company to secure offtake agreements for large projects, limit annual capex, and repurchase discounted shares [8] - D.E. Shaw also emphasizes the need for a clear CEO succession plan and improved corporate governance, particularly in light of CEO Seifi Ghasemi's long tenure and compensation [9] Competitive Landscape - Peers like Linde and Air Liquide have successfully executed hydrogen projects with secured offtake agreements, contrasting with Air Products' current strategy [5] - The presence of multiple activist investors, including Mantle Ridge, indicates a growing concern among shareholders regarding capital allocation and governance issues [11][12]

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Air Products and Chemicals (APD) , which belongs to the Zacks Chemical - Diversified industry.This seller of gases for industrial, medical and other uses has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 5.02%.For the most recent quarter, Air Products a ...

Company Overview - Air Products is a leading industrial gases company with over 80 years of operation, focusing on energy, environmental, and emerging markets [2] - The company has two growth pillars driven by sustainability, providing essential industrial gases and related expertise across various industries [2] - Air Products is involved in developing and operating large clean hydrogen projects to support the transition to low- and zero-carbon energy [2] Financial Performance - For fiscal 2023, Air Products reported sales of $12.6 billion from operations in approximately 50 countries [3] - The current market capitalization of Air Products is about $60 billion [3] Workforce and Mission - The company employs approximately 23,000 individuals from diverse backgrounds, committed to creating innovative solutions for environmental sustainability [3] - Air Products aims to address challenges faced by customers, communities, and the world through its higher purpose [3] Upcoming Events - Air Products will release its fiscal 2024 fourth quarter financial results on November 7, 2024, prior to market open [1] - A teleconference to review these results will take place at 8:30 a.m. ET, open to the public and media in listen-only mode [1]

Multi-strategy hedge fund D.E. Shaw revealed on Thursday it had amassed a roughly $1 billion stake in industrial gas giant Air Products and Chemicals, the second activist stake at the $71 billion company. D.E. Shaw, one of the largest hedge funds in the world by assets, said in letters made public Thursday that its efforts to engage privately with the company had been largely rebuffed and marked by "an apparent lack of urgency." The investor plans to nominate three directors to the company's board, people f ...

Reiterates the Need for the Board to Engage in Proper Succession Planning and Insist on a More Rigorous Capital Allocation Policy NEW YORK, Oct. 10, 2024 /PRNewswire/ -- The D. E. Shaw group, a global investment and technology development firm with more than $60 billion in investment capital and a history of working with companies to help build long-term value, today sent an open letter to the Board of Directors of Air Products and Chemicals, Inc. (NYSE: APD) (the "Company" or "APD") calling for changes aim ...

Air Products and Chemicals (APD) shares rallied 9.5% in the last trading session to close at $312.69. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.3% gain over the past four weeks.APD’s stock popped on reports that activist investor Mantle Ridge has amassed a large stake in the company. According to The Wall Street Journal, Mantle Ridge has acquired a more than $1 billion stake in the company and plans t ...