Air Products pivots toward semiconductor infrastructure, securing a $250 million Arizona supply deal and raising full-year earnings guidance as it retreats from capital-intensive clean-energy ventures.
Air Products signed a long-term semiconductor gas supply deal in Arizona, lifted full-year adjusted EPS guidance, and continues expanding chip-fab supply contracts despite significant clean-energy exit charges.
Air Products has signed a long-term agreement to supply high-purity gases to a major semiconductor manufacturer in Arizona, marking its second major chip-sector win. Following this expansion, the company raised its full-year adjusted EPS guidance to $13.39-$13.49, signaling strong core business performance despite absorbing $2.9 billion in charges from exiting clean-energy projects.
The company is discontinuing major clean-energy initiatives, such as the Louisiana Clean Energy Complex, to focus on its core industrial gas business and semiconductor supply contracts, resulting in $2.9 billion in pre-tax charges.
The deal, which involves a $250 million investment, supports the company's decision to lift its full-year adjusted EPS guidance to a range of $13.39 to $13.49 per share.