American gas and chemical firm Air Products and Chemicals Inc. saw double-digit growth in its earnings for the third quarter of the latest fiscal year, the company announced in a statement.
- Earnings per share climbed 17% to $2.36, while net income climbed 16% to $532 million. Industrial gas sales grew double digits in the Americas, Europe, Middle East, and Africa, and the Asia markets.
- The company will develop a net-zero hydrogen energy complex in Edmonton, Canada, touted as the world’s “most competitive and lowest-carbon-intensity” hydrogen network.
- It also partnered with Baker Hughes to develop a next-generation hydrogen compression to lower production costs and with Cummins Inc. to fast-track the integration of hydrogen t-zero-hydrogen-complex-in-canada-earnings-up-16fuel cell trucks in markets.
- Adjusted earnings per share guidance are set at $8.95 to $9.05 for the fiscal year 2021 and at $2.44 to $2.54 in the fourth quarter of the fiscal year.
Scott Crocco will retire as Chief Finance Officer on September 30, 2021. Melissa Schaeffer will assume responsibility for the group’s worldwide finance organization on August 10, 2021.
APD is down 5.90%.