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air products & chemicals inc (APD) Key Developments

Air Products & Chemicals Inc. Cut 500 Jobs

Air Products & Chemicals, as part of a global restructuring that began in September, cut 500 jobs. The Upper Macungie eliminated 50 positions through September 30, 2014 and then another 450 through December 31, 2014.

Air Products & Chemicals Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2014; Provides Earnings Guidance for the Second Quarter and Remainder of 2015

Air Products & Chemicals Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2014. For the quarter, the company reported sales of USD 2,560.8 million compared to USD 2,545.5 million a year ago. Operating income was USD 430.0 million compared to USD 385.6 million a year ago. Income from continuing operations before taxes were USD 444.0 million compared to USD 390.5 million a year ago. Income from continuing operations were USD 337.5 million compared to USD 296.0 million a year ago. Net income was USD 337.5 million compared to USD 299.1 million a year ago. Net income attributable to the company was USD 324.6 million compared to USD 290.2 million a year ago. Net income from continuing operations attributable to the company was USD 324.6 million compared to USD 287.1 million a year ago. Diluted income per share from continuing operations was USD 1.50 compared to USD 1.34 a year ago. Diluted income per share attributable to the company was USD 1.50 compared to USD 1.35 a year ago. Cash provided by operating activities were USD 486.6 million compared to USD 546.2 million a year ago. Additions to plant and equipment was USD 446.5 million compared to USD 391.1 million a year ago. Adjusted EBITDA was USD 723.1 million against USD 658.0 million a year ago. The company expects second quarter EPS from continuing operations to be between USD 1.50 and USD 1.55 per share, and guidance for continuing operations for fiscal 2015 of USD 6.35 to USD 6.55 per share. The capital expenditure forecast for the fiscal year 2015 remains between USD 1.7 billion and USD 1.9 billion. For the remainder of fiscal 2015, the company expects to continue delivering higher EBITDA due to cost-reduction efforts. The company certainly working towards being free cash flow-positive for fiscal year 2015. The company's tax rate of 24% remained unchanged versus prior year.

Air Products Wins LNG Technology and Equipment Order for Louisiana Terminal Facility

Air Products has signed an agreement increasing its already active and integral role in the growing U.S. LNG export market. The company will be providing its proprietary LNG technology, equipment, and related process license for three production trains for the Cameron LNG Liquefaction Project, located in Hackberry, Louisiana. The Department of Energy has approved the Cameron LNG facility for LNG export up to 12 million tons per year. The company sale includes three main cryogenic coil wound heat exchangers and the associated equipment and technology. The company will supply its LNG proprietary C3MR™ liquefaction technology and equipment, and its MCR® Main Cryogenic Heat Exchangers will be installed at the heart of the proprietary propane pre-cooled mixed refrigerant liquefaction process. In addition to Cameron LNG in Louisiana, the company is also providing its LNG technology and equipment for Freeport LNG's liquefaction and export project in Freeport, Texas, and Dominion's liquefaction project at its Cove Point LNG facility in Lusby, Maryland.

Air Products & Chemicals Inc. to Report Q1, 2015 Results on Jan 29, 2015

Air Products & Chemicals Inc. announced that they will report Q1, 2015 results at 9:00 AM, Eastern Standard Time on Jan 29, 2015

Air Products & Chemicals Inc., Q1 2015 Earnings Call, Jan 29, 2015

Air Products & Chemicals Inc., Q1 2015 Earnings Call, Jan 29, 2015

 

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