Air Products and Chemicals Inc.
) has introduced a new additive called Tomakleen G-12 additive to
its product portfolio for hard surface industrial and
institutional cleaning. The product brings solace to the
formulators who face the challenge of increasing environmental
regulations and the need for improving worker safety. The
Tomakleen G-12 additive addresses this challenge by delivering
improved and faster cleaning while enabling reduced VOC
Tomakleen G-12 additive is a detergency booster and holds unique
features that enables the additive to provide fast monomer
migration and better surface exchange to deliver a cleaning
'boost' to products such as hard surface cleaners, heavy duty
degreasers, and vehicle care products.
Tomakleen G-12 additive, which is used with a base surfactant,
delivers improved cleaning performance and can effectively reduce
or eliminate the need for oxygenated solvents. It is also a
water-soluble alternative to glycol ethers and other oxygenated
Air Products released its first-quarter fiscal 2014 (ended Dec
31, 2013) results on Jan 28. The company saw higher profit in the
quarter helped by its cost reduction measures. The company
registered earnings from continuing operations of $1.34 a share
in the quarter, up 3% from the year-ago earnings of $1.30. The
results beat the Zacks Consensus Estimate by a penny.
Consolidated net income rose 4% year over year to $290.2 million
(or $1.35 a share) from $278.3 million (or $1.31 a share) a year
Revenues, however, declined 0.7% year over year to $2,545.5
million, missing the Zacks Consensus Estimate of $2,562 million.
The decline was due to lower volumes and flat pricing which were
partly offset by higher energy pass-through.
Air Products reaffirmed its earnings guidance for fiscal 2014 and
anticipates earnings from continuing operations to be in the
range of $5.70 and $5.90 per share. For the second quarter,
earnings from continuing operations are expected in the band of
$1.32 to $1.37 per share.
Air Products expects its strategic actions including productivity
improvement, better asset utilization, disciplined project
execution and cost management initiatives to drive earnings in
fiscal 2014. The company expects stronger momentum in the back
half of the year.
Air Products currently holds a Zacks Rank #3 (Hold).
Other companies in the chemical industry worth considering
Northern Technologies International Corp.
PPG Industries Inc.
). While both Methanex and Northern Technologies carry a Zacks
Rank #1 (Strong Buy), PPG Industries holds a Zacks Rank #2
AIR PRODS & CHE (APD): Free Stock Analysis
METHANEX CORP (MEOH): Free Stock Analysis
NORTHERN TECH (NTIC): Free Stock Analysis
PPG INDS INC (PPG): Free Stock Analysis
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