在最新电话会议中，Air Products & Chemicals Inc（APD）透露，随着加拿大和荷兰的大型清洁能源项目逐步完工，公司预计到2027年资本支出将出现显著回落。
这一预测反映了公司重大投资周期接近尾声。当前，Air Products正全力推进位于加拿大的世界级净零氢能项目，以及荷兰的低碳氢燃料设施建设。这些旗舰项目投入运营后，将有效缓解公司的资本开支压力。
管理层强调，2027年后的支出规划将更侧重于现有设施的优化与中小型增效项目，而非大规模新建工程。这一战略转向有望为公司释放更多现金流，进而支撑股东回报与债务结构调整。
尽管短期资本支出仍将维持高位，但公司对中长期财务灵活性持乐观态度。随着清洁能源转型的阶段性成果落地，Air Products有望在保持技术领先的同时，实现更稳健的财务表现。
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