Linde Reports Second-Quarter 2024 Results

Linde plc (Nasdaq: LIN) announced its second-quarter 2024 results, revealing a net income of $1,663 million and an EPS of $3.44, marking increases of 6% and 8%, respectively. Adjusted net income was $1,859 million, reflecting a 6% rise, while adjusted EPS also grew by 8% to $3.85.

Sales for the quarter reached $8.3 billion, up by 1% compared to the previous year, with underlying sales improving by 3%. Operating profit stood at $2.2 billion, and adjusted operating profit was $2.4 billion, up by 6%, driven by higher prices and enhanced productivity. The adjusted operating profit margin increased by 140 basis points to 29.3%.

Despite a 10% decrease in operating cash flow to $1,929 million, free cash flow was $796 million after $1.1 billion in capital expenditures. The company returned $2.1 billion to shareholders during the quarter through dividends and stock buybacks.

Third-quarter 2024 adjusted diluted EPS is projected to be between $3.82 and $3.92. For the full year, the EPS guidance ranges from $15.40 to $15.60, representing an 8% to 10% increase from 2023.