Latest Report Discusses Company's Sustainability Performance and Progress, Setting of Additional Goals, and Efforts to Accelerate the Clean Energy Transition  LEHIGH VALLEY, Pa. , Aug. 8, 2024 /PRNewswire/ -- Air Products (NYSE: APD) published today its 2024 Sustainability Report – "Generating a Cleaner Future" – detailing progress against its existing sustainability goals and announcing new ones; highlighting its clean hydrogen megaprojects around the world; and showcasing how its industrial gases and applications expertise enable customers to improve productivity and reduce environmental impact.

Investors with an interest in Chemical - Diversified stocks have likely encountered both Cabot (CBT) and Air Products and Chemicals (APD). But which of these two companies is the best option for those looking for undervalued stocks?

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Air Products and Chemicals released strong Q3 2024 results, exceeding EPS guidance and confirming a positive outlook. Recent transactions and agreements show APD's liquidation value and growth potential. A strong balance sheet with a growing DPS and a positive EPS trajectory make APD a buy.

Air Products and Chemicals, Inc.'s results beat expectations, with EPS up 7% and revenue slightly below estimates. Operational concerns arose with its COO's departure, but there were no major issues reported in the latest financial results. The company continues to execute growth projects, reducing project risk and signing new contracts, with shares potentially reaching $320 in 12 months.

Air Products is a leading supplier of industrial gases. The company beat bottom-line expectations for the third quarter.

Air Products and Chemicals, Inc. (NYSE:APD ) Q3 2024 Earnings Conference Call August 1, 2024 8:30 AM ET Company Participants Sidd Manjeshwar - Vice President, Investor Relations Seifi Ghasemi - Chairman, President and Chief Executive Officer Eric Guter - Investor Relations Melissa Schaeffer - Chief Financial Officer Conference Call Participants John McNulty - BMO Capital Markets Jeff Zekauskas - JPMorgan Vincent Andrews - Morgan Stanley David Begleiter - Deutsche Bank Chris Parkinson - Wolfe Research Duffy Fisher - Goldman Sachs Salvator Tiano - Bank of America Mike Leithead - Barclays Mike Sison - Wells Fargo John Roberts - Mizuho Josh Spector - UBS Patrick Cunningham - Citi Dan Rizzo - Jefferies Operator Good morning and welcome to Air Products Third Quarter Earnings Release Conference Call. Today's call is being recorded at the request of Air Products.

Although the revenue and EPS for Air Products and Chemicals (APD) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Air Products (APD) sees lower sales in Q3 as higher prices are more than offset by lower energy cost pass-through and unfavorable currency swings.

Air Products and Chemicals (APD) came out with quarterly earnings of $3.20 per share, beating the Zacks Consensus Estimate of $3.04 per share. This compares to earnings of $2.98 per share a year ago.

Q3 FY24 (comparisons versus prior year): GAAP EPS# of $3.13, up 17 percent; GAAP net income of $709 million, up 16 percent; and GAAP net income margin of 23.7 percent, up 360 basis points Adjusted EPS* of $3.20, up seven percent; adjusted EBITDA* of $1.3 billion, up five percent; and adjusted EBITDA margin* of 42.4 percent, up 260 basis points Recent Highlights Clean hydrogen / energy transition Signed a 15-year agreement to supply 70,000 tons of green hydrogen annually starting in 2030, helping to decarbonize TotalEnergies' Northern European refineries and avoid approximately 700,000 tons of CO₂ each year Announced agreement to divest Air Products' liquefied natural gas (LNG) process technology and equipment business to Honeywell for $1.81 billion in an all-cash transaction; closing is expected before the end of the calendar year, subject to customary closing conditions, including receipt of certain regulatory approvals Announced plans to build networks of permanent, commercial-scale, multi-modal hydrogen refueling stations from Northern California to Southern California, and along major transportation corridors near the Trans-European Transport Network Announced trial of a Daimler Mercedes-Benz GenH2 truck, aligned with Air Products' goal to convert its distribution fleet to hydrogen powered vehicles Core industrial gas business Announced plans to construct two new air separation units at the Company's existing Conyers, Georgia, and Reidsville, North Carolina, locations to replace older units and serve further merchant market growth Announced $70 million investment to expand gas separation and purification membranes at Company's Missouri manufacturing and logistics center, driven by growing product demand in biogas and hydrogen recovery applications, as well as customer needs for the use of nitrogen for the aerospace industry and cleaner fuels for the marine industry Sustainability      Awarded 'A' rating on MSCI's environmental, social and governance ratings Guidance Confirmed previous fiscal 2024 full-year adjusted EPS guidance* of $12.20 to $12.50, up six to nine percent over prior year adjusted EPS*; fiscal 2024 fourth quarter adjusted EPS guidance* of $3.33 to $3.63 Continue to expect fiscal year 2024 capital expenditures* in the range of $5.0 billion to $5.5 billion # Earnings per share is calculated and presented on a diluted basis from continuing operations attributable to Air Products. *Certain results in this release, including in the highlights above, include references to non-GAAP financial measures on a consolidated, continuing operations basis and a segment basis.