Air Products [APD]

Interview with Air Products IR [APD]

[Mun Sheih requested not to be recorded, so a transcript is not available. Interview Date: July 9th, 2020] Mun Sheih is the head of IR at Air Products. The biggest takeaways of the call were (1) you can utilize “piggybanking” and “density strategies” to drive incremental margins in regions where there is an on-site presence; …

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Mid-Year Review [July 2020]

I hesitated before deciding to write mid-year review of some of the companies I talked about because I do not want this blog to be seen as a place to receive stock tips or buy/sell recommendations. Rather, I consider this blog as a real-time journey into my research process. Sometimes I encounter a really great …

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The Story of Air Products and Inflated Expectations

Introduction What got me interested in the gas industry? And by gas industry, I’m talking about the providers of oxygen, nitrogen, hydrogen, etc. Well, from this quote from Air Liquid’s 2009 Annual Report: “Since it was listed on French Stock Exchange in 1913, Air Liquide has always shown a profit.” Air Liquid 2009 Annual Report …

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