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Sep 30, 2023
Linde Q3 2023 Earnings Report
Reported strong results driven by relentless culture to optimize the base business while increasing network density and deploying capital to high-quality growth initiatives.
Key Takeaways
Linde reported third-quarter 2023 net income of $1,565 million and diluted earnings per share of $3.19, up 23% and 26% respectively. Sales for the third quarter were $8,155 million, 7% below prior year but underlying sales increased 3%.
Sales $8.2 billion, down 7% YoY, underlying sales up 3%
Operating profit $2.1 billion; adjusted operating profit $2.3 billion, up 15%
Operating profit margin 25.2%; adjusted operating profit margin 28.3%, up 550 basis points
EPS $3.19 up 26%; adjusted EPS $3.63, up 17% YoY
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the fourth quarter of 2023, Linde expects adjusted diluted earnings per share in the range of $3.38 to $3.48, up 7% to 10% versus prior-year quarter. For the full year 2023, the company expects adjusted diluted earnings per share to be in the range of $14.00 to $14.10, up 14% to 15% versus prior year and assumes no currency impact.
Positive Outlook
- Adjusted diluted earnings per share in the range of $3.38 to $3.48 for Q4 2023
- 7% to 10% increase in adjusted diluted earnings per share versus prior-year quarter for Q4 2023
- Currency tailwind of 1% year-over-year is expected for Q4 2023
- Adjusted diluted earnings per share to be in the range of $14.00 to $14.10 for full year 2023
- 14% to 15% increase in adjusted diluted earnings per share versus prior year for full year 2023
Challenges Ahead
- Currency headwind of 2% sequentially is expected for Q4 2023
- Sales were down 7% year-over-year
- Operating cash flow decreased 4% versus prior year
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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