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

Air Products and Chemicals

30/06/2026 15:47

Updates
** Shares of Air Products APD.N rise 9.7% to $297.68
** The industrial gases maker says it will not proceed with the Louisiana Clean Energy Complex project
** Adds that the project did not meet its "stringent return criteria" 
** Will record Q3 pre-tax charges not expected to exceed $2.9 billion, primarily to write down assets and terminate contractual commitments - APD
** 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
** Including session's moves, stock up 20.5% YTD

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