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

Air Products and Chemicals

30/06/2026 13:56

** 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

 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com;))