Linde Reports Second-Quarter 2024 Results (Earnings Release Tables Attached)

EQS-News: Linde plc / Key word(s): Quarter Results Linde Reports Second-Quarter 2024 Results (Earnings Release Tables Attached) (news with additional features) 02.08.2024 / 11:45 CET/CEST The issuer is solely responsible for the content of this announcement. Linde Reports Second-Quarter 2024 Results Second-Quarter Highlights

• Sales $8.3 billion, up 1%, underlying sales up 3%
• Operating profit $2.2 billion, adjusted operating profit $2.4 billion, up 6%
• Operating profit margin 26.4%; adjusted operating profit margin 29.3%, up 140 basis points
• EPS $3.44, up 8%; adjusted EPS $3.85, up 8% YoY
• Full-year 2024 adjusted EPS guidance of $15.40 - $15.60 representing 9% to 11% growth year-over-year excluding FX

Woking, UK, August 2, 2024 – Linde plc (Nasdaq: LIN) today reported second-quarter 2024 net income of $1,663 million and diluted earnings per share of $3.44, up 6% and 8% respectively.  Excluding Linde AG purchase accounting impacts and other charges, adjusted net income was $1,859 million, up 6% versus prior year.  Adjusted earnings per share was $3.85, 8% above prior year.

Linde’s sales for the second quarter were $8,267 million, up 1% versus prior year.  Compared to prior year, underlying sales increased 3% from price attainment as volume growth was flat.

Second-quarter operating profit was $2,184 million.  Adjusted operating profit of $2,422 million was up 6% versus prior year led by higher price and continued productivity initiatives across all segments.  Adjusted operating profit margin of 29.3% was 140 basis points above prior year.

Second-quarter operating cash flow of $1,929 million decreased 10% versus prior year driven primarily by engineering project prepayment timing.  After capital expenditures of $1,133 million, free cash flow was $796 million.  During the quarter, the company returned $2,100 million to shareholders through dividends and stock repurchases, net of issuances.

Commenting on the financial results and business outlook, Chief Executive Officer Sanjiv Lamba said, “Despite the challenging macro, the Linde team again delivered high-quality results, growing EPS 8%, increasing ROC to 25.7% and expanding operating margins 140 basis points, reaching 29.3%. This exemplifies our ability to continuously grow the integrated industrial gas model while developing and winning high-quality growth opportunities.”