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Arkema S.A. ARKAY has signed a new eight-year deal with ENGIE to deliver biomethane to various Bostik plants in France, continuing its transition to a more sustainable industrial model.
This 25 GWh/year deal will cover approximately 85% of the yearly gas usage of four Bostik facilities in France (Coubert, Privas, Ribécourt and Venette), representing a significant step forward in decarbonizing the company's energy supply. This new agreement aligns with the long-term contract signed with ENGIE in early 2023 for the annual supply of 300 GWh of biomethane in France.
This contract represents a significant advancement in Arkema's energy transition, demonstrating the company's dedication to actively reducing its carbon footprint and helping its customers on their own path to decarbonization.
Arkema's portfolio of first-class solutions addresses the ever-increasing demand for novel and sustainable materials, drawing on its unique combination of materials science knowledge.
Shares of Arkema have lost 23.2% over the past year compared with a 16.5% decline of its industry.
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ARKAY’s Rank & Key Picks
ARKAY currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the basic materials space are Carpenter Technology Corporation CRS, CSW Industrials Inc. CSWI and Axalta Coating Systems Ltd. AXTA
Carpenter Technology currently carries a Zacks Rank #2 (Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.7%. The company's shares have soared 169.6% in the past year. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for CSW Industrials’ current fiscal-year earnings is pegged at $8.50. CSWI, carrying a Zacks Rank #2, surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with the average earnings surprise being 10.1%. The company's shares have rallied 28.4% in the past year.
Axalta Coating Systems, which currently carries a Zacks Rank #1, beat the consensus estimate in each of the trailing four quarters. In this time frame, it delivered an earnings surprise of roughly 16.3%, on average. AXTA’s shares have gained 1.2% over the past year.
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Carpenter Technology Corporation (CRS) : Free Stock Analysis Report