Linde Reports Q2 Earnings Beat with $3.85 EPS, Revenue at $8.27B, Net Income $1.66B, Stock Down 0.7%

Linde PLC reported its second-quarter earnings for fiscal year 2024, surpassing Wall Street expectations with an adjusted earnings per share (EPS) of $3.85, compared to the estimated $3.79. The company's revenue reached $8.27 billion, slightly below the forecast of $8.29 billion, marking a 1% year-over-year increase. Net income for the quarter was reported at $1.66 billion, reflecting a 6% increase from the previous year. Despite the positive earnings report, Linde's stock was down 0.7% in premarket trading. The company also noted an adjusted operating profit margin increase of 140 basis points to 29.3%. Looking ahead, Linde projected its Q3 adjusted EPS to be between $3.82 and $3.92, slightly below the consensus estimate of $3.93. For the full fiscal year, the adjusted EPS guidance was raised to a range of $15.40 to $15.60, up from the previous forecast of $15.30 to $15.60. Linde's CFO indicated that the company is excluding any further improvement in earnings guidance for now, citing insufficient encouraging signs for a bullish outlook on second-half economic activity. Additionally, Linde anticipates further merger and acquisition activity in North America and the Asia-Pacific region.