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Air Products and Chemicals Inc. APD will highlight how its industrial gases, such as hydrogen, can help the power industry generate a cleaner future and achieve its decarbonization goals at POWERGEN International, at the Ernest N. Morial Convention Centre in New Orleans, LA, from Jan 23-25.

With more than 80 years of industrial gas experience and as the world's largest hydrogen provider, APD serves as a decarbonization partner to the power generation industry as it transitions to sustainable energy. Air Products has officially announced that it will invest at least $15 billion in clean energy projects around the world by 2027 to expedite the energy transition and develop a low- and zero-carbon hydrogen economy.

Air Products experts will be available to discuss, at POWERGEN International, how power generators can use oxygen to increase combustion efficiency, identify viable carbon capture and sequestration options, and incorporate hydrogen into a company's operation to reduce emissions.

POWERGEN International is the leading networking and business platform for power generation professionals and solution providers. It brings together power producers, utilities, engineering, procurement and construction professionals, consultants, original equipment manufacturers and large-scale energy users to explore innovative solutions in the context of the transition to cleaner and more sustainable energy sources.

Shares of Air Products have lost 13.3% over the past year compared with a 14.2% decline of its industry.

Image Source: Zacks Investment Research

Air Products, on its fourth-quarter fiscal 2023 call, said that it expects fiscal 2024 adjusted earnings per share of $12.80-$13.10, indicating 13% growth from the prior year’s adjusted earnings at the midpoint. For the first quarter of fiscal 2024, the company expects adjusted earnings per share in the range of $2.90-$3.05, suggesting a rise of 13% at the midpoint from the year-ago quarter.

Air Products expects capital expenditures in the band of $5 billion to $5.5 billion for fiscal 2024.

Air Products and Chemicals, Inc. Price and Consensus

Zacks Rank & Other Key Picks

Air Products currently carries a Zacks Rank #2 (Buy).

Other top-ranked stocks in the basic materials space include The Andersons Inc. ANDE, Carpenter Technology Corporation CRS and Steel Dynamics Inc. STLD.

Andersons currently carries a Zacks Rank #1 (Strong Buy). ANDE beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 64.4%, on average. The company’s shares have surged 45.7% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.

Carpenter Technology currently carries a Zacks Rank #1. CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 14.3%. The company’s shares have soared 52.3% in the past year.

The Zacks Consensus Estimate for Steel Dynamics’ current-year earnings has been revised upward by 4.3% in the past 60 days. It currently carries a Zacks Rank #1. Steel Dynamics delivered a trailing four-quarter earnings surprise of roughly 6.5%, on average. STLD shares are up around 1.3% in a year.

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