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11/30/2012 3:30:01 PM
Specialty chemical company
Air Products & Chemicals Inc.
) announced that it has won a contract from the University of
Petroleum and Energy Studies (UPES) in India to build the
country's first solar powered renewable hydrogen fuel station.
The station is expected to come online in July 2013 and will be
located at the Solar Energy Centre near Delhi.
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 cents.
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.
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.
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 Report
PRAXAIR INC (PX): Free Stock Analysis Report
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