Air Products exits Louisiana clean energy complex, takes up to $2.9B pre-tax charge

Air Products & Chemicals, Inc.

Pre-tax charge up to $2.9B ($2.2B after-tax) in fiscal Q3 2026 for asset write-downs and contract terminations.
Exits Louisiana Clean Energy Complex, Casa Grande green hydrogen project, and other clean energy distribution projects.
Cash expenditures from exits estimated not to exceed $925M; may be lower after negotiations.
Finalizing marketing and distribution agreement with Yara for renewable ammonia from NEOM Green Hydrogen Project in Saudi Arabia.
Decisions driven by expected returns below criteria, challenging commercial conditions, and slower hydrogen mobility market.

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