Apple, Air Products and Chemicals, and MSC Industrial Direct are expected to deliver record-high payouts to shareholders in 2024. Apple's low dividend yield is due to its prioritization of buybacks over dividends, but it has the potential to become a high-yield dividend stock. Air Products has a long history of raising dividends and offers a compelling option for income and value investors. MSC Industrial Direct faces challenges in the current manufacturing sector slowdown but is expected to improve as conditions change, offering a well-covered dividend yield of 3.3%.
Apple, Air Products and Chemicals, and MSC Industrial Direct are expected to deliver record-high payouts to shareholders in 2024. Apple's low dividend yield is due to its prioritization of buybacks over dividends, but it has the potential to become a high-yield dividend stock. Air Products has a long history of raising dividends and offers a compelling option for income and value investors. MSC Industrial Direct faces challenges in the current manufacturing sector slowdown but is expected to improve as conditions change, offering a well-covered dividend yield of 3.3% for investors.
Air Products and Chemicals reported a first quarter non-GAAP EPS of $2.82, missing expectations by $0.18, with revenue of $3 billion also falling short by $210 million. The company's Americas sales were down 10 percent, while Asia sales increased by two percent. Air Products and Chemicals updated its fiscal 2024 full-year adjusted EPS guidance to $12.20 to $12.50, and its second quarter adjusted EPS guidance to $2.60 to $2.75, both below consensus estimates.
CNBC's Jim Cramer favors rival Linde over Air Products and Chemicals after the latter reported weaker-than-expected earnings and revenue for its fourth quarter of fiscal 2023. Cramer highlighted Air Product's weak forward guidance compared to Linde's overall upbeat results last month, indicating that the industrial gas industry may be a "winner takes all game." Linde had posted strong adjusted earnings-per-share growth and a lift to its profit guidance, resulting in stock gains. Cramer's Charitable Trust holds a stake in Linde but not in Air Products.
Air Products and Chemicals (APD) reported a decline in revenue of 10.6% for Q4, with EPS of $3.15 compared to $2.89 a year ago. The reported revenue was lower than the Zacks Consensus Estimate, while the EPS exceeded expectations. Key metrics for the company's industrial gases divisions in different regions also showed mixed results compared to analyst estimates. Despite the performance, APD's stock has returned +2.5% over the past month.
Air Products and Chemicals held public information sessions to explain their plans for the Massena Green Hydrogen Facility, a liquid hydrogen manufacturing plant in Massena, New York. The company is investing approximately half a billion dollars into the project, which is expected to create 150 to 200 jobs during construction and peak at around 350 jobs in early 2025 during the startup and operation phase of the facility.
