Yahoo Finance Air Products (APD) Commences Expansion at Missouri Facility
Air Products and Chemicals Inc. APD recently had a ground-breaking ceremony at the site of a $70 million expansion of its Missouri Manufacturing and Logistics Centre in Maryland Heights, near St. Louis, MO.
The investment, which is Air Products Membrane Solutions' largest ever, is supported by rising product demand for biogas and hydrogen recovery applications, as well as customer need for nitrogen in the aerospace industry and greener fuels in the maritime sector.
The new manufacturing facility is expected to start production by the end of 2025 with the addition of 30 full-time workers. Currently, approximately 170 people work at the St. Louis facility. This expansion builds on a prior $10 million investment made in 2023 to expand manufacturing capacity at the existing facility.
Air Products Membrane Solutions specializes in hollow fiber membrane separators and onsite gas-generating systems. APD develops, engineers, manufactures and markets a comprehensive line of PRISM Membrane Separators, Marine Systems and Engineered-to-Order Systems to protect people and property at sea, on land and in the air. Air Products' systems are also intended to generate more sustainable energy sources and increase productivity across a wide range of industries and applications. Air Products Membrane Solutions’ primary offerings are PRISM Membrane Separators, Marine Systems, Engineered-to-Order Systems and Global Service and Support.
Shares of APD have lost 9.5% over the past year compared with its industry’s 6.9% decline.
Image Source: Zacks Investment Research
Air Products, in its fiscal second quarter, said that it continues to expect fiscal 2024 adjusted earnings per share (EPS) in the range of $12.20-$12.50, indicating 6-9% growth from the prior year’s adjusted EPS. For the fiscal third quarter, the company expects adjusted EPS in the range of $3-$3.05.
Air Products and Chemicals, Inc. Price and Consensus
Air Products and Chemicals, Inc. price-consensus-chart | Air Products and Chemicals, Inc. Quote
Zacks Rank & Key Picks
Air Products currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space are ATI Inc. ATI, Carpenter Technology Corporation CRS and Ecolab Inc. ECL.
ATI currently sports a Zacks Rank #1 (Strong Buy). ATI beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 8.3%. The company's shares have gained 37.8% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.
Carpenter Technology currently sports a Zacks Rank of 1. CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.1%. The company's shares have gained 97% in the past year.
The Zacks Consensus Estimate for Ecolab's current year earnings is pegged at $6.59 per share, indicating a year-over-year rise of 26.5%. The consensus estimate for ECL's current-year earnings has gone up in the past 30 days. ECL, which currently carries a Zacks Rank #2 (Buy), beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 1.3%. The company's shares have gained roughly 33.7% in the past year.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Air Products and Chemicals, Inc. (APD) : Free Stock Analysis Report
Ecolab Inc. (ECL) : Free Stock Analysis Report
ATI Inc. (ATI) : Free Stock Analysis Report
Carpenter Technology Corporation (CRS) : Free Stock Analysis Report
