Air Products Decides Not To Proceed With Louisiana Clean Energy Complex Project; To Record $2.9B At Most Pre-Tax Charges During Q3; Disconti
Air Products (NYSE: APD ) today announced it will not proceed with the Louisiana Clean Energy Complex (LCEC) project. The LCEC project exit and other portfolio actions will result in a pre-tax charge in Air Products' fiscal third quarter. Air Products also announced it is finalizing a marketing and distribution agreement with Yara International ASA (OSE: YAR) for renewable ammonia from the NEOM Green Hydrogen Project in Saudi Arabia. Air Products will record pre-tax charges not expected to exceed $2.9 billion (or approximately $2.2 billion on an after-tax basis) in its fiscal 2026 third quarter, primarily to write down assets and terminate contractual commitments, primarily related to the LCEC project decision.
Air Products (NYSE: APD ) today announced it will not proceed with the Louisiana Clean Energy Complex (LCEC) project.
The LCEC project exit and other portfolio actions will result in a pre-tax charge in Air Products' fiscal third quarter.
Air Products also announced it is finalizing a marketing and distribution agreement with Yara International ASA (OSE: YAR) for renewable ammonia from the NEOM Green Hydrogen Project in Saudi Arabia.
Air Products will record pre-tax charges not expected to exceed $2.9 billion (or approximately $2.2 billion on an after-tax basis) in its fiscal 2026 third quarter, primarily to write down assets and terminate contractual commitments, primarily related to the LCEC project decision.