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Jun 30, 2023
Linde Q2 2023 Earnings Report
Linde's second-quarter performance in 2023 was marked by sales of $8.2 billion, a 3% decrease year-over-year, but underlying sales grew by 6%.
Key Takeaways
Linde reported a decrease in sales by 3% year-over-year, but underlying sales increased by 6%. The adjusted EPS was up 15% YoY. The company increased its full-year 2023 adjusted EPS guidance to $13.80 - $14.00, representing 12% to 14% growth year-over-year.
Sales were $8.2 billion, down 3% YoY, but underlying sales were up 6%.
Operating profit was $2.0 billion, with adjusted operating profit at $2.3 billion, up 15%.
The operating profit margin was 24.5%, and the adjusted operating profit margin was 27.9%, up 440 basis points.
EPS was $3.19, and adjusted EPS was $3.57, up 15% YoY.
Linde
Linde
Linde Revenue by Segment
Linde Revenue by Geographic Location
Revenue by Segment
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAPAC Revenue
CapyFin.comLinde Engineering Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAPAC Revenue
CapyFin.com Forward Guidance
For the third quarter of 2023, Linde expects adjusted diluted earnings per share in the range of $3.48 to $3.58, up 12% to 15% versus prior-year quarter. For the full year 2023, the company expects adjusted diluted earnings per share to be in the range of $13.80 to $14.00, up 12% to 14% versus prior year.
Positive Outlook
- Adjusted diluted earnings per share are expected to increase by 12% to 15% versus prior-year quarter for Q3 2023.
- Adjusted diluted earnings per share are expected to be in the range of $3.48 to $3.58 for Q3 2023.
- Full-year 2023 adjusted diluted earnings per share are expected to increase by 12% to 14% versus prior year.
- Full-year 2023 adjusted diluted earnings per share are expected to be in the range of $13.80 to $14.00.
- Full-year capital expenditures are expected to be in the range of $3.5 billion to $4.0 billion to support growth and maintenance requirements including the $4.4 billion contractual sale of gas project backlog.
Revenue & Expenses
Visualization of income flow from segment revenue to net income