Linde beats Q3 estimates, but trims outlook on slower end markets (updated)

Linde

31/10/2024 10:13

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       Oct 31 (Reuters) - Linde  LIN.O , the world's largest
industrial gases company, on Thursday reported third-quarter
earnings above market expectations on higher pricing, but
slightly lowered the top end of its full-year forecast.
    The U.S.-German company, which supplies gases such as
oxygen, nitrogen and hydrogen to factories and hospitals,
reported a 9% rise in its adjusted earnings per share to $3.94
in the July-September quarter.
    That came ahead of analysts' mean estimate of $3.89 per
share in an LSEG poll.
    It now expects its adjusted annual earnings per share to
increase by 8-9%, after previously guiding for 8-10% growth.
    Linde has consistently beaten earnings estimates or raised
its guidance over the past five years, thanks to its stable
industrial contracts, diverse customer base and growing hydrogen
investments as countries look to cut back on emissions.
    However, its end markets including metals, mining and
healthcare have slowed down amid a tougher economy, especially
in its key Americas region.
    The group's total sales were up 2% at $8.36 billion in the
third quarter, slightly ahead of the LSEG poll estimate of $8.35
billion.

 (Reporting by Bartosz Dabrowski in Gdansk; editing by Milla
Nissi)
 ((bartosz.dabrowski@thomsonreuters.com;))