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Mar 31, 2024
Linde Q1 2024 Earnings Report
Linde's first quarter demonstrated resilience through optimizing network density and developing high-quality growth opportunities.
Key Takeaways
Linde reported a slight decrease in sales but an increase in operating profit and adjusted EPS. The company's underlying sales increased by 1%, driven by price attainment, and adjusted operating profit margin improved by 200 basis points.
Sales were $8.1 billion, down 1%, but underlying sales increased 1%.
Operating profit was $2.1 billion, with adjusted operating profit at $2.3 billion, up 6%.
Adjusted operating profit margin increased by 200 basis points to 28.9%.
Adjusted EPS was $3.75, a 10% increase year-over-year.
Linde
Linde
Linde Revenue by Segment
Forward Guidance
Linde expects adjusted diluted earnings per share in the range of $3.70 to $3.80 for the second quarter of 2024 and $15.30 to $15.60 for the full year 2024.
Positive Outlook
- Second quarter adjusted diluted EPS expected to be in the range of $3.70 to $3.80, up 4% to 6% versus prior-year quarter.
- Second quarter adjusted diluted EPS expected to be up 5% to 7% when excluding 1% of estimated currency headwind.
- Full year 2024 adjusted diluted EPS expected to be in the range of $15.30 to $15.60, up 8% to 10% versus prior year.
- Full year 2024 adjusted diluted EPS expected to be up 9% to 11% when excluding 1% of estimated currency headwind.
- Full-year capital expenditures are expected to be in the range of $4.0 billion to $4.5 billion to support growth and maintenance requirements including the $4.9 billion contractual sale of gas project backlog.
Revenue & Expenses
Visualization of income flow from segment revenue to net income