BUZZ-Air Products jumps on Louisiana clean energy project exit, flags $2.9 billion charge

Air Products and Chemicals, Inc.

Air Products and Chemicals, Inc.

APD

0.00

** Shares of industrial gases maker Air Products APD.N rise 7.4% to $291.30 premarket

** Company says it will not proceed with the Louisiana Clean Energy Complex project

** Says project did not meet its "stringent return criteria"

** APD says it will record pre-tax charges not expected to exceed $2.9 billion in Q3, primarily to write down assets and terminate contractual commitments

** Company adds that it will discontinue a zero-carbon liquid hydrogen facility in Casa Grande, Arizona and other smaller scale projects supporting clean energy distribution

** APD says it does not expect cash expenditures related to the charges to exceed $925 million

** Up till last close, stock up 9.9% YTD


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.