Operations Technician

Air Products reported fiscal 2026 third quarter results, posting adjusted earnings per share of $3.47, exceeding guidance despite a GAAP operating loss of $2.1 billion. The loss reflects $2.9 billion in pre-tax charges from project exit decisions announced in June. The company raised full-year adjusted EPS guidance to $13.39–$13.49 and reduced expected capital expenditures to approximately $3.5 billion. It discontinued the Louisiana Clean Energy Complex and an Arizona zero-carbon hydrogen facility. Sales rose 5% to $3.2 billion on higher volumes and pricing. Adjusted operating income increased 9% to $810 million. Air Products announced a long-term agreement for four air separation units in Taiwan supporting semiconductor manufacturing. The company also finalised a marketing and distribution agreement with Yara for renewable ammonia from the NEOM Green Hydrogen Project in Saudi Arabia.

Yara acquires gulf coast ammonia plant. | Published on: Jul 2, 2026 â?¢ The acquisition demonstrates execution of Yara's strategy to diversify its energy exposure and enhance the competitiveness of its global ammonia production footprint. â?¢ Yara will own the ammonia plant with an expected nameplate capacity of 1.3 mtpa, with Air Products supplying the industrial gases to Yara as part of a long-term supply agreement. â?¢ Yara will utilize its midstream ammonia platform to supply both external customers and its own internal sourcing needs. â?¢ The plant is currently in commissioning and is anticipated to continue ramping up toward full production and stable operations by end of 2026, with production targeted at above nameplate capacity. â?¢ Yara sees investing in the U.S. as highly attractive, reinforcing its long-time presence as a reliable provider of crop nutrition solutions and producer of ammonia. "By bringing this plant into the Yara portfolio, we are strengthening our operational resilience and diversifying our energy costs at a time when supply flexibility matters more than ever. This addition of world-class U.S. production capacity supports our long term strategy of diversifying our energy exposure, capturing economies of scale, and lowering both fixed costs and capital per tonne. With a century of experience and a proven commitment to safety across our operations, sales, and distribution networks in over 60 countries, Yara will contribute to reliable supply across critical value chains, in the U.S. and beyond," said Svein Tore Holsether, President and Chief Executive Officer. Strengthening Yara's competitiveness The acquisition demonstrates execution of Yara's strategy to diversify its energy exposure through value-accretive, disciplined investments that improve competitiveness and support long-term earnings expansion. Yara will utilize its midstream ammonia platform to supply both external customers, and its own internal sourcing needs. This further strengthens Yara's ability to serve its fertilizer production system and key industrial customers with reliable ammonia supply. The acquisition includes the ammonia synthesis loop and related ammonia storage and exclusive use of loading infrastructure. Hydrogen and nitrogen supply, along with other utilities, are supplied through a long-term contract with Air Products, which owns and operates the largest hydrogen pipeline network in the United States. This contributes to Yara's strategic priority of gas diversification, with a significant increase of U.S. gas exposure (Henry Hub). The set-up is similar to Yara's operations in Freeport, Texas, where a comparable model combined with Yara's ammonia expertise has supported strong operational improvements and consistently high performance. The plant is completing outstanding work toward a gradual ramp-up to its 1.3 million metric ton nameplate capacity and stable operations, currently anticipated by the end of 2026. Yara brings a century of experience in ammonia production to this acquisition and will work together with Air Products to improve plant reliability and performance, targeting production to or beyond nameplate capacity. Following a comprehensive technical due diligence, Yara confirmed the GCA plant's potential to become one of the most efficient and profitable assets in the global portfolio, strengthening Yara's position on the global ammonia cost curve. Yara's flexible system enables multiple pathways for profitable decarbonization. Yara and Air Products extend their collaboration through this acquisition, and through finalizing the previously announced marketing and distribution agreement for renewable ammonia from the NEOM Green Hydrogen plant in Saudia Arabia. In addition, the set up in GCA presents opportunities for a flexible, step-wise entry to low-carbon ammonia, subject to regulatory development and financial viability. Financial impact and capital discipline The USD 1.3 billion consideration increases Yara's total capex outlay for 2026 to USD 2.5 billion and is within the expected capex allocated for ammonia investments 2026-2030 at its Capital Markets Day in January 2026. As of 1Q 2026, Yara reported a strong balance sheet with Net debt/EBITDA1 of 1.00. This acquisition implies a pro forma Net Debt/EBITDA1 of 1.73 including dividend payment made in May, remaining within the limits of Yara's capital allocation policy. Yara reiterates its capital allocation framework for 2026-2030 targeting average annual capex spend of 1.2 BUSD in real terms, strict capital discipline and shareholder returns in line with its dividend policy. While this acquisition brings forward part of the anticipated growth capex for the next years, it also accelerates the associated cash flows from new ammonia capacity. Further growth investments over the period will be limited and focused on selective high return opportunities. Parallel to executing its strategic priorities through this acquisition, Yara remains focused on its improvement to strengthen cash flow and maintain balance sheet robustness, while continuing to deliver attractive shareholder distributions. Yara remains committed to its capital allocation policy based on an overall objective of maximizing value creation for shareholders and maintaining a BBB/Baa2 credit rating, with a targeted capital structure consisting of a mid-to-long term net debt/EBITDA1 excl. special items rate of 1.5-2.0 and a net debt/equity1 ratio below 0.60. Following completion of the acquisition, Yara's immediate priority will be commissioning the GCA plant while delivering on its previously announced EBITDA1 improvement targets. With its resilient, future-ready business model, Yara is well positioned to deliver strong shareholder returns today and in the future. Sellers offered the plant for sale pursuant to an auction process, facilitated by J.P. Morgan Securities LLC who acted as financial advisor to GCA Holdings, LLC in connection with the transaction. Completion of the acquisition is subject to customary closing conditions, including receipt of relevant regulatory approvals. About Yara in the United States Yara North America, Inc. is a provider of crop nutrition, ammonia, and industrial solutions serving agricultural and industrial customers in the United States. With a U.S. presence dating back to 1946, Yara North America, Inc. employs approximately 185 people and operates seven strategically located import and distribution terminals that support key industrial and agricultural regions, particularly for specialty crop production. In addition, Yara is the majority owner of a joint venture that owns an ammonia production facility in Freeport, Texas. About Yara Yara is a global leader in crop nutrition and ammonia with a mission to responsibly feed the world and protect the planet. Yara operates a global, flexible production system that delivers a diversified portfolio of nitrogen-based products. With its extensive global market reach and more than a century of agronomic knowledge and continuous innovation, Alliance Grain Company partner across the value chain to improve crop yields, optimize resource use, and reduce environmental impact. Through diversified energy exposure and profitable decarbonization efforts, Yara is uniquely positioned to strengthen industrial competitiveness and create longâ???term value for customers, shareholders, employees, and society at large. Founded in Norway in 1905, Yara operates in over 60 countries and serves more than 140 markets, employing about 15,700 people. In 2025, Yara reported revenues of $15.7 billion.

Air Products has cancelled its Louisiana Clean Energy Complex project, citing expected financial returns below its criteria. The decision will result in pre-tax charges not exceeding $2.9 billion in the company's fiscal 2026 third quarter. The industrial gases company is also discontinuing a zero-carbon liquid hydrogen facility in Casa Grande, Arizona, and other smaller clean energy projects due to challenging commercial conditions and slower-than-expected hydrogen mobility market development. Air Products will attempt to redeploy certain assets to existing or future projects. Despite the cancellations, Air Products operates 18 industrial gas facilities in Louisiana and the world's largest hydrogen pipeline network. The company is finalising a marketing and distribution agreement with Yara International for renewable ammonia from its NEOM Green Hydrogen Project in Saudi Arabia.