Air Products (APD) Joins ECH2A to Build Hydrogen Ecosystem
Air Products and Chemicals, Inc. APD has recently joined the European Clean Hydrogen Alliance (ECH2A) formed by the European Commission. The alliance will help the region to transition toward a competitive, sustainable economy as well as establish its global leadership in hydrogen. As the largest global producer of hydrogen, Air products is well-positioned to support the aims of ECH2A, including renewable and low-carbon hydrogen production, transmission and distribution.
Additionally, Air Products is an active participant in many hydrogen industry associations such as the Hydrogen Council. It is also playing a major role in addressing energy and environmental challenges through projects like NEOM, which is the largest carbon-free and transformative hydrogen project in the world. The company’s fueling technology is currently used in more than 1.5 million hydrogen fills per year.
Air Product's technology has been used in more than 10 million hydrogen fills. The company is involved in more than 250 hydrogen fueling projects in Europe and over 20 countries across the globe. To illustrate, trucks, cars, vans, cell towers, forklifts, buses, planes, material handling equipment as well as submarines uses Air Products' trend-setting technologies for fueling. The company has more than six decades of hydrogen experience along with an extensive patent portfolio in hydrogen dispensing technology.
Air Products’ shares have surged 31% in the past year against the industry’s 2.9% decline.
In July, Air Products stated that it will continue to generate value for shareholders over the long term and invest in world-scale, sustainability-focused projects, notwithstanding the challenging environment.
The company’s investments in high-return projects, project wins and productivity actions are likely to drive its fiscal 2020 results. The company is boosting productivity to improve its cost structure. It is seeing the positive impacts of its productivity actions and is expected to benefit from additional productivity and cost-improvement programs in fiscal 2020.
Zacks Rank & Key Picks
Air Products currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Brenntag AG BNTGY, Pretium Resources, Inc. PVG and Yamana Gold Inc. AUY, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Brenntag has an expected earnings growth rate of 2.9% for 2020. The company’s shares have surged 31.9% in the past year.
Pretium Resources has an expected earnings growth rate of 20% for 2020. Its shares have returned 9.7% in the past year.
Yamana has an expected earnings growth rate of 84.6% for 2020. The company’s shares have gained 76.1% in the past year.
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