Air Products and Chemicals, Inc. APD has been selected by the city of Montreal to supply oxygen equipment to support an ozone generation site that will remove impurities from wastewater at the Jean-R-Marcotte Wastewater Treatment Plant. It is among the biggest wastewater treatment plants in North America.
Jean-R.-Marcotte treats about half of Quebec's wastewater before discharging it into the St. Lawrence River. The wastewater treatment plant discharges 2.3 million cubic meters of water into the river each day on average.
Air Products will provide four vacuum swing adsorption (VSA) oxygen plants as part of its agreement with the city of Montreal. The ozone-generating system will disinfect the water by eliminating viruses, germs and medicinal items. Air Products' oxygen-generating plants will aid the city's attempts to expand a sustainable water purification process that will benefit Quebec residents and wildlife that rely on the St. Lawrence River.
Shares of APD have gained 13.7% over the past year compared with a 1.6% rise of its industry.
Image Source: Zacks Investment Research
Air Products expects full-year fiscal 2023 adjusted EPS of $11.40-$11.50, indicating 11-12% growth from the prior year’s adjusted EPS. For the fourth quarter of fiscal 2023, the company expects adjusted EPS in the range of $3.04-$3.14, suggesting a rise of 7-10% from fourth-quarter fiscal 2022.
Air Products expects capital expenditures in the range of $5 billion to $5.5 billion for full-year fiscal 2023.
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 include Carpenter Technology Corporation CRS, Denison Mine Corp. DNN and Veritiv Corporation VRTV.
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). The stock has rallied roughly 83.2% in the past year. CRS beat the Zacks Consensus Estimate in three of the last four quarters while meeting in one. It delivered a trailing four-quarter earnings surprise of 9.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Denison Mines currently carries a Zacks Rank #1. The stock has gained roughly 8.9% in the past year. DNN beat the Zacks Consensus Estimate in three of the last four quarters while meeting once. It delivered a trailing four-quarter earnings surprise of 75%, on average.
Veritiv currently carries a Zacks Rank #2 (Buy). The stock has rallied roughly 43% in the past year. VRTV beat the Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 6%, on average.
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