on Linde Plc (NASDAQ:LIN)
Linde Reports Steady Growth in Third-Quarter 2024 Results
Linde plc announced its third-quarter 2024 results, reporting strong financial performance despite challenging economic trends. Sales reached $8.4 billion, reflecting a 2% increase from the previous year. The company's operating profit increased to $2.1 billion, while the adjusted operating profit rose by 7%, reaching $2.5 billion. The adjusted operating profit margin improved by 130 basis points to 29.6%.
Adjusted earnings per share were up 9% year-over-year, reaching $3.94. Linde's full-year adjusted EPS guidance is set between $15.40 and $15.50. Operating cash flow for the quarter rose by 8% to $2.7 billion, and free cash flow was $1.7 billion after capital expenditures. The firm bolstered its project backlog to $10 billion.
CEO Sanjiv Lamba noted weak economic conditions but expressed confidence in the company’s strategic actions to mitigate these challenges. For the fourth quarter, Linde anticipates an adjusted EPS growth of 8% to 10%.
R. P.
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