Air Products & Chemicals, Inc. reports news on its global industrial gases business, including hydrogen, helium, oxygen, nitrogen, argon, carbon dioxide and gas blends supplied to refining, chemicals, metals, electronics, manufacturing, medical, food and energy customers. Company updates frequently address quarterly earnings, capital discipline, dividends, gas supply agreements, new production assets and applications expertise for customer processes.
Recurring coverage also includes clean hydrogen and industrial decarbonization projects, helium supply-chain resilience, electronics and aerospace customer activity, and gas-based technologies such as oxy-fuel, carbon capture, Smart Technology and Freshline food freezing solutions. The company also reports on equipment offerings including turbomachinery, membrane systems and cryogenic containers.
Air Products' Global VP for Hydrogen, Eric Guter, will deliver a keynote at the Advanced Clean Transportation Expo in Las Vegas on May 20, 2024. His address, 'Preparing for a Zero-Emission Trucking Future,' will discuss the role of clean hydrogen in decarbonizing heavy-duty transportation. Air Products plans to invest $15 billion in clean energy projects globally, aiming to advance the energy transition and meet climate goals. The company, a leader in hydrogen production, serves over 1.5 million refuelings annually in 20 countries and will showcase its hydrogen solutions for the heavy-duty trucking sector at booth #2030 during the Expo from May 20-23.
Air Products, a global leader in gas separation and purification membranes, announced the launch of the PRISM® GreenSep LNG membrane separator for bio-LNG production. This new technology eliminates the need for intermediate purification technologies, resulting in a higher yield of bio-LNG with reduced operational expenses and energy consumption. The company will showcase the separator at BIOGAS AMERICAS in Savannah, Georgia, highlighting its benefits for system designers. Air Products Membrane Solutions offers a range of membrane separators, marine systems, and engineered-to-order systems designed to create sustainable energy sources across various industries.
Air Products has announced the successful performance test of its proprietary AP-DMR™ LNG Process technology at the Coral South FLNG facility in Mozambique, Africa. The technology achieved LNG production above 3.4 million tons per year, making it the second largest FLNG facility in the world. Air Products' advanced technology offers high efficiency, reliable operation, and lower carbon intensity compared to other LNG processes, positioning them as a leader in LNG technology and equipment.
Air Products will showcase decarbonization solutions for iron and steel production at AISTech2024, offering a wide range of industrial gas solutions, hydrogen plants, and carbon capture technologies to reduce CO2 emissions by up to 75%. The company will also donate up to $15,000 to the AIST Foundation for each registered attendee who visits their booth, further supporting the steel industry.
Air Products reported strong second-quarter fiscal 2024 results, with a GAAP EPS of $2.57, up 30% from the prior year, and an adjusted EPS of $2.85, up 4%. The company's net income and margin also showed substantial growth. They have been listed among Barron's 100 Most Sustainable Companies for the sixth consecutive year and increased their quarterly dividend. Air Products maintained their fiscal 2024 adjusted EPS guidance of $12.20 to $12.50, showing a positive outlook for the future.
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