Air Products to take $2.9B charge for Louisiana project cancellation, secures NEOM ammonia distribution deal with Yara
APD sits 36% above its 52-week low of $229.11.
Summary
Air Products & Chemicals will incur up to $2.9 billion in pre-tax charges in Q3 FY2026 due to the cancellation of its Louisiana Clean Energy (LCEC) project. This follows the company's June 30th announcement to exit certain projects, with the specific charge amount now detailed. Separately, Air Products finalized a global marketing and distribution agreement with Yara for renewable ammonia from the NEOM Green Hydrogen Project. The significant charge will impact Q3 earnings, while the Yara partnership represents a strategic expansion into the global renewable energy market.
At the time of this announcement, APD was trading at $312.72 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $70B. The 52-week trading range was $229.11 to $314.28. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Wiseek News.