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Linde (LIN) Q3 Earnings & Revenues Beat on Higher Prices

Zacks Equity Research
·3-min read

Linde plc LIN has reported third-quarter 2022 adjusted earnings from continuing operations of $3.10 per share, surpassing the Zacks Consensus Estimate of $2.94. The bottom line improved from the year-ago quarter’s profit of $2.73.

Total quarterly revenues of $8,797 million beat the Zacks Consensus Estimate of $8,267 million. The top line also improved from the year-ago quarter’s $7,668 million.

The strong results have been driven by increased prices and volumes across all end markets, except for healthcare.

Linde plc Price, Consensus and EPS Surprise

 

Linde plc Price, Consensus and EPS Surprise
Linde plc Price, Consensus and EPS Surprise

Linde plc price-consensus-eps-surprise-chart | Linde plc Quote

Segmental Highlights

Operating profit of Linde in the Americas segment was up 13.4% year over year to $974 million on higher pricing and volumes due to increased prices and volumes, aided by all end markets, except for healthcare.

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Linde’s profit in the EMEA segment declined 2.3% year over year to $465 million due to lower volumes.

Profit in the APAC segment increased 12.3% year over year to $429 million on an uptick in prices and volumes, aided by all end markets, except for healthcare.

Operating profit in the Engineering segment increased to $150 million from the prior year’s $106 million.

Backlogs

At the end of the third quarter, the company’s high-quality backlog was recorded at $6.8 billion, comprising a sale-of-gas backlog of $3.7 billion.

Capital Investment & Balance Sheet

Linde reported a capital expenditure of $762 million for the September-end quarter. The company ended the quarter with cash and cash equivalents of $3.8 billion. Linde’s long-term debt was $10.6 billion.

Guidance

For the December-end quarter, Linde projects adjusted earnings per share between $2.80 and $2.90. For 2022, it expects adjusted earnings per share of $11.93-$12.03.

The company expects a capital expenditure of $3-$3.4 billion for the year.

Zacks Rank & Stocks to Consider

Linde currently carries a Zacks Rank #3 (Hold).

A few better-ranked players belonging to the same space are Albemarle Corporation ALB, Livent Corporation LTHM and Koppers Holdings Inc KOP. While Albemarle currently sports a Zacks Rank #1 (Strong Buy), Livent and Koppers carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Albemarle is a premier specialty chemicals company with leading positions in attractive end markets globally. ALB remains committed to delivering incremental returns to shareholders, leveraging healthy cash flows. It paid out dividends worth around $178 million to its shareholders in 2021.

Albemarle is scheduled to report third-quarter results on Nov 2. The Zacks Consensus Estimate for ALB’s earnings is pegged at $6.84 per share, suggesting a significant increase from the prior-year reported figure.

Livent offers lithium chemicals for applications in batteries, agrochemicals, aerospace alloys, greases, pharmaceuticals, polymers, and various industrial applications. LTHM currently has a Zacks Style Score of A for Growth and B for Momentum.

Livent is scheduled to report third-quarter results on Nov 1. The Zacks Consensus Estimate for LTHM’s earnings is pegged at 41 cents per share, suggesting a significant increase from the prior-year reported figure.

Koppers is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds. KOP currently has a Zacks Style Score of A for Value and B for Growth.

Koppers is scheduled to report third-quarter results on Nov 4. The Zacks Consensus Estimate for KOP’s earnings is pegged at $1.17 per share, suggesting an increase from the prior-year reported figure.


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