EQS-News

Linde Reports First-Quarter 2024 Results (Earnings Release Tables Attached) - Seite 2

Lamba continued, “Despite the uncertain economic environment, I remain confident in our ability to continue to create shareholder value through our proven operating model.”

For the second quarter of 2024, Linde expects adjusted diluted earnings per share in the range of $3.70 to $3.80, up 4% to 6% versus prior-year quarter or 5% to 7% when excluding 1% of estimated currency headwind.

For the full year 2024, the company expects adjusted diluted earnings per share to be in the range of $15.30 to $15.60, up 8% to 10% versus prior year or 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.

First-Quarter 2024 Results by Segment

Americas sales of $3,560 million were flat versus prior-year quarter.  Compared with first quarter 2023, underlying sales increased 2% driven by 3% higher pricing partially offset by 1% lower volumes, primarily in the manufacturing and healthcare end markets.  Operating profit of $1,088 million was 30.6% of sales, 170 basis points above prior year and 110 basis points higher when excluding the effects of cost pass-through. 

APAC (Asia Pacific) sales of $1,591 million were flat versus prior year.  Compared with first quarter 2023, underlying sales grew 4% driven by 1% price attainment and 3% volume growth, primarily in the chemicals and electronics end markets, including project start-ups.  Operating profit of $447 million was 28.1% of sales, 160 basis points above prior year.  Year over year cost pass-through was immaterial.

EMEA (Europe, Middle East & Africa) sales of $2,091 million were down 4% versus prior year.  Compared with first quarter 2023, underlying sales grew 1%, driven by 3% higher pricing partially offset by 2% lower volumes, primarily in the manufacturing end market.  Operating profit of $687 million was 32.9% of sales, 500 basis points above prior year and 340 basis points higher when excluding the effects of cost pass-through.