Air Products and Chemicals ( (APD) ) has shared an announcement.
On February 24, 2025, Air Products and Chemicals, Inc. announced its decision to exit three U.S.-based projects as part of a strategic review by its new Board of Directors and CEO. This move will result in a pre-tax charge of up to $3.1 billion in fiscal 2025’s second quarter, primarily for asset write-downs and contract terminations. The projects include a sustainable aviation fuel expansion in California, a green liquid hydrogen facility in New York, and a carbon monoxide production project in Texas. The company cited challenging commercial aspects, regulatory developments, and unfavorable project economics as reasons for these cancellations. Air Products will continue to evaluate its project backlog but does not anticipate further material cancellations.
More about Air Products and Chemicals
Air Products and Chemicals, Inc. is a leading industrial gases company with over 80 years of experience, focusing on energy, environmental, and emerging markets. It supplies essential industrial gases and related equipment to various industries, including refining, chemicals, metals, electronics, manufacturing, medical, and food. The company is a global leader in hydrogen supply, supporting the transition to low- and zero-carbon energy in industrial and heavy-duty transportation sectors. Air Products operates in approximately 50 countries, with fiscal 2024 sales of $12.1 billion and a market capitalization of over $65 billion.
YTD Price Performance: 7.50%
Average Trading Volume: 1,461,630
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $68.94B
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