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Jun 30, 2024
Linde Q2 2024 Earnings Report
Linde's Q2 2024 results reflected EPS growth, increased ROC, and expanded operating margins despite a challenging macroeconomic environment.
Key Takeaways
Linde reported a 1% increase in sales to $8.3 billion and an 8% increase in EPS to $3.44. Adjusted EPS was $3.85, up 8% year-over-year. The adjusted operating profit margin reached 29.3%, a 140 basis point increase. The company reaffirmed its full-year adjusted EPS guidance of $15.40 - $15.60, representing 9% to 11% growth year-over-year excluding FX.
Sales reached $8.3 billion, up 1%, with underlying sales up 3%.
Operating profit was $2.2 billion, with adjusted operating profit at $2.4 billion, up 6%.
Adjusted operating profit margin increased by 140 basis points to 29.3%.
EPS was $3.44, up 8%, and adjusted EPS was $3.85, also up 8% year-over-year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Linde expects adjusted diluted earnings per share in the range of $3.82 to $3.92 for Q3 2024, representing a 5% to 8% increase versus the prior-year quarter. Full year 2024 adjusted diluted earnings per share is expected to be in the range of $15.40 to $15.60, up 8% to 10% versus prior year.
Positive Outlook
- Adjusted diluted EPS guidance for Q3 2024 is $3.82 to $3.92, up 5% to 8% versus prior year quarter.
- Excluding a 1% estimated currency headwind, Q3 2024 adjusted diluted EPS is expected to increase by 6% to 9%.
- Full year 2024 adjusted diluted EPS guidance is $15.40 to $15.60, up 8% to 10% versus prior year.
- Excluding a 1% estimated currency headwind, full year 2024 adjusted diluted EPS is expected to increase by 9% to 11%.
- 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.
Challenges Ahead
- Economic environment remains uncertain.
- Q3 2024 adjusted diluted earnings per share includes an estimated currency headwind of 1%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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