Linde Q4 Results Top Estimates; Sees Higher Earnings In Q1, FY24

(RTTNews) - Industrial gases company Linde plc (LIN) reported Tuesday that its fourth-quarter net income grew 16 percent to $1.54 billion from last year's $1.33 billion.

Earnings per share were $3.16, up 18 percent from last year's $2.67.

Adjusted net income was $1.75 billion or $3.59 per share, compared to $1.57 billion or $3.16 per share a year ago.

On average, 14 analysts polled by Thomson Reuters expected earnings of $3.49 per share for the quarter. Analysts' estimates typically exclude special items.

Linde's sales for the fourth quarter were $8.30 billion, 5 percent above prior year's $7.90 billion. Sales were 3 percent above when excluding positive currency impact. Underlying sales increased 4 percent from price attainment and flat volumes.

The Street was looking for sales of $8.08 billion for the quarter.

Looking ahead for the first quarter, the company projects adjusted earnings per share of $3.58 to $3.68, 5 percent to 8 percent above prior-year quarter or 6 percent-9 percent growth excluding FX. The Analysts expect earnings of $3.73 per share.

Further, for the full year 2024, the company expects adjusted earnings per share to be in the range of $15.25 to $15.65, up 7 percent to 10 percent versus prior year or 8 percent to 11 percent when excluding estimated currency headwinds.

The analysts expect earnings of $15.43 per share for the year.

In fiscal 2023, adjusted earnings per share were $14.20.

In pre-market activity on Nasdaq, the shares were gaining around 1.6 percent to trade at $407.20.

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