Specialty chemical company
Air Products and Chemicals Inc.
) announced that it will participate in the 85th Annual Water
Environment Federation Technical Exhibition and Conference (WEFTEC)
in New Orleans, to be held from September 29 to October 3. The
company intends to display its wide range of products, including
gases, equipments, and technology solutions for the water and
wastewater treatment industry, at the exhibition.
At the WEFTEC, Air Products is set to demonstrate Halia Water
Solutions and PRISM that help both municipal and industrial
customers improve the quality of water and wastewater streams. Both
Halia and PRISM offer innovative, value-added technology solutions
to the water industry for improving water quality, reducing cost
and increasing the environmental sustainability of water treatment
Air Products will also feature PRISM Technology for onsite oxygen
and nitrogen gas generation. The company's PRISM Vacuum Swing
Adsorber (VSA) systems produce oxygen across a range of purities,
pressures and flow rates. On-site generation of oxygen helps
significantly reduce costs compared to traditionally prepared
liquid oxygen as it deploys state-of-the-art technology. The
company's PRISM membrane system uses proprietary technology to
ensure a guaranteed reliable supply of nitrogen gas. Air Products
will also exhibit support services for customer-owned oxygen plants
and ozone safety and feed gas purity at the WEFTEC.
Air Products is the world's leading supplier of hydrogen for
processing cleaner burning transportation fuels and hydrogen
infrastructure and fueling technology. The company also holds a
leadership position in liquefied natural gas technology and
In July 2012, the company released its results for the
third-quarter 2012 ended on June 30, 2012. The company reported
adjusted (excluding one-time items) earnings from continued
operations of $1.41 a share for the quarter, in line with the Zacks
Consolidated net income, as reported, surged 48% year over year
to $484.5 million or $2.26 a share compared with $326.5 million or
$1.50 a year ago. The increase in profits was attributable to lower
costs and one-time gains, which more than offset the impact of
Revenues dipped 5% year over year to $2,340.1 million, missing
the Zacks Consensus Estimate of $2,455 million. Challenging
conditions in Europe and Asia as well as unfavorable currency
(stemming from a stronger dollar) weighed on the company's top line
in the quarter.
Air Products' healthy project backlog and solid bidding activity
strongly positions it to achieve its long-term growth target. Given
its leading position in the gases business, the company is well
positioned to capitalize on the cyclical recovery in its core
industrial end markets. Further, new business deals are expected to
boost profits in 2012. However, soaring energy and raw material
costs are likely to hamper margins.
Air Products, which competes with
), has a short-term Zacks #3 Rank (Hold) currently and we have a
long-term Neutral recommendation on its shares.
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