Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Air Products Inks Oxygen & Nitrogen Supply Deal In China

ByZacks Investment Research
Published 11/20/2017, 09:03 PM
Updated 07/09/2023, 06:31 AM
Air Products and Chemicals Inc. (NYSE:APD) signed a second long-term oxygen and nitrogen supply contract with a leading global materials supplier in Guangdong in South China. The move will help to strengthen Air Products' position in the strategic industrial base as well as its relationship with this global customer.
Per the deal, the company will build two sets of state-of-the-art cryogenic air separation plants in Guangdong to produce gaseous oxygen and nitrogen. The new plants are expected to come online in 2018. With the help of existing and new plants, Air Products will be able to increase gas supply capacity.
Air Products has underperformed the industry it belongs to over the last six months. The company’s shares have moved up 12.7% over this period, compared with roughly 15.7% gain recorded by its industry.
Air Products logged fourth-quarter fiscal 2017 adjusted earnings of $1.76 per share, up 18% from the year-ago quarter. Earnings surpassed the Zacks Consensus Estimate of $1.69. Revenues rose 13% year over year to $2.2 billion in the reported quarter, beating the Zacks Consensus Estimate of $2.09 billion.
Air Products expects adjusted earnings per share of $1.60-$1.70 for first-quarter fiscal 2018, up 9-16% from the year-ago quarter. For fiscal 2018, Air Products expects adjusted earnings per share of $6.85-$7.05, up 9-12% year over year.
Air Products has a strong project backlog and benefits from actions to cut operational costs. Moreover, strategic investments in high-return projects, new business deals and acquisitions are expected to drive results in fiscal 2018.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .
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 Ingevity Corporation (NYSE:NGVT) , ArcelorMittal (NYSE:MT) and Westlake Chemical Corporation (NYSE:WLK) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Ingevity has expected long-term earnings growth of 12%. Its shares have gained 35.6% year to date.

ArcelorMittal has expected long-term earnings growth of 11.3%. Its shares have rallied 29.2% year to date.

Westlake Chemical has expected long-term earnings growth of 10.4%. Its shares have moved up 68.4% year to date.

Zacks' Hidden Trades

While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?

Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.

Click here for Zacks' secret trade>>



Air Products and Chemicals, Inc. (APD): Free Stock Analysis Report
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .


Westlake Chemical Corporation (WLK): Free Stock Analysis Report

Ingevity Corporation (NGVT): Free Stock Analysis Report

ArcelorMittal (MT): Free Stock Analysis Report

Original post

Zacks Investment Research

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.