Specialty chemical company
Air Products & Chemicals Inc.
) announced that it has introduced its new Airase Structured
Siloxane Defoamer Line (SSDL Defoamers). These new defoamers
contain seven siloxane defoamers that are designed to deliver
optimal performance in water-based formulations compared to
The Airase SSDL defoamers have improved pH stability and provide
outstanding stability and persistency for coatings and ink
formulations. They are also free from hazardous air pollutant
(HAP) and alkylphenol ethoxylate (APE) and do not involve
volatile organic compounds to formulations.
Therefore, these defoamers are ideally suited for paints and
coatings, colorants, inks, adhesives and other industrial
applications. Further, they are user friendly and deliver
consistent performance allowing the formulators to take a
systematic approach to defoamer selection.
Air Products provides atmospheric, process and specialty
gases; performance materials; equipment; and technology products.
Last month, the company released its fourth quarter and fiscal
2012 results. It logged adjusted earnings from continued
operations of $1.42 a share for the quarter ended September 30,
2012, missing the Zacks Consensus Estimate by a couple of
Consolidated net income, as reported, plunged 57% year over
year to $138.7 million or 65 cents a share, pummeled by hefty
one-time charges. The company reported a profit of $324.8 million
or $1.51 a share a year ago.
Revenues rose 4% to $2,606 million, beating the Zacks
Consensus Estimate of $2,574 million. The revenue growth was
attributable to higher volumes in the Tonnage Gases, Equipment
and Energy, and Electronics and Performance Materials divisions
as well as sales increases due to acquisitions, partly offset by
the impact of unfavorable currency. The company witnessed
sluggish manufacturing activity in the quarter.
For fiscal 2012, adjusted earnings of $5.40 a share missed the
Zacks Consensus Estimate of $5.42 but exceeded the year-ago level
of $5.36. Sales for the year edged down 1% year over year to
$9,612 million, but beat the Zacks Consensus Estimate of $9,577
For fiscal 2013, Air Products plans to take a number of steps
including execution of its new Tonnage investments and sustained
improvement in its Electronics and Performance Materials unit to
attain better productivity. The company expects that its recent
strategic moves will act favorably for future growth and
profitability despite the weak macroeconomic backdrop.
The company anticipates earnings between $5.65 and $5.85 per
share for fiscal 2013. For the first quarter of fiscal 2013,
earnings are expected between $1.26 and $1.31 per share. Air
Products also expects capital expenditures between $2 billion and
$2.2 billion for the year.
Air Products, which competes with
), currently holds a short-term (1 to 3 months) Zacks #4 Rank
(Sell) and we have a long-term (more than 6 months) Underperform
recommendation on the stock.
AIR PRODS & CHE (APD): Free Stock Analysis
PRAXAIR INC (PX): Free Stock Analysis Report
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