Financial Performance - First quarter sales reached $8.193 billion, showing a 0% year-over-year change but a 4% sequential increase [30] - Operating profit for the first quarter was $2.206 billion, a 16% increase year-over-year and a 10% sequential increase [30] - Diluted EPS reached a record of $3.42, a 17% year-over-year increase, or 20% excluding foreign exchange impacts [30] - The company raised its full-year adjusted EPS guidance to a range of $13.45 to $13.85, representing a 9% to 13% increase compared to 2022 [43] - Capital expenditures (Capex) for the first quarter were $829 million, a 28% increase year-over-year [30] - Free cash flow was $1.079 billion in Q1 [10] Segment Performance - Sales in the Americas increased by 4% sequentially [36] - Sales in EMEA increased by 7% sequentially [49] - Sales in APAC increased by 2% sequentially [38] Strategic Initiatives - The company is focused on clean energy projects, including electrolyzers and carbon capture technologies [25, 29] - The company is leveraging engineering and technology capabilities to build on its hydrogen business, which is valued at approximately $3 billion [39] - The company is optimizing its base through productivity, digitalization, portfolio optimization, and price management [101]

Linde plc (NASDAQ:LIN) Q1 2023 Earnings Conference Call April 27, 2023 9:00 AM ET Company Participants Juan Pelaez - Head, Investor Relations Sanjiv Lamba - Chief Executive Officer Matt White - Chief Financial Officer Conference Call Participants Mike Leithead - Barclays Nicola Tang - BNP Paribas Jeff Zekauskas - JPMorgan Duffy Fischer - Goldman Sachs David Begleiter - Deutsche Bank Peter Clark - Société Générale Steve Byrne - Bank of America Michael Sison - Wells Fargo Vincent Andrews - Morgan Stanley Dan ...

[PART I - FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements (unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) This section presents Linde plc's unaudited condensed consolidated financial statements for Q1 2023, encompassing income, balance sheet, and cash flow statements, alongside detailed accounting notes and segment data [Consolidated Statements of Income](index=4&type=section&id=Consolidated%20Statements%20of%20Income) Linde plc reported Q1 2023 sales of **$8.193 billion**, a slight decrease, while operating profit surged **31%** to **$1.933 billion**, and diluted EPS grew **33%** to **$3.06** Consolidated Statements of Income - Q1 2023 vs Q1 2022 | Metric | Q1 2023 (Millions USD) | Q1 2022 (Millions USD) | Change | | :--- | :--- | :--- | :--- | | Sales | $8,193 | $8,211 | -0.2% | | Operating Profit | $1,933 | $1,480 | +30.6% | | Net Income – Linde plc | $1,516 | $1,174 | +29.1% | | Diluted EPS | $3.06 | $2.30 | +33.0% | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2023, total assets reached **$80.308 billion**, with total liabilities at **$38.972 billion**, and total equity remaining stable at **$41.323 billion** Condensed Consolidated Balance Sheet Highlights | Metric | March 31, 2023 (Millions USD) | December 31, 2022 (Millions USD) | | :--- | :--- | :--- | | Total Current Assets | $12,904 | $13,047 | | Total Assets | $80,308 | $79,658 | | Total Current Liabilities | $17,785 | $16,479 | | Total Liabilities | $38,972 | $38,271 | | Total Equity | $41,323 | $41,374 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities decreased to **$1.908 billion** in Q1 2023, while investing activities used **$1.634 billion**, and financing activities shifted to a **$764 million** outflow Cash Flow Summary - Three Months Ended March 31 | Activity | 2023 (Millions USD) | 2022 (Millions USD) | | :--- | :--- | :--- | | Net cash provided by operating activities | $1,908 | $2,000 | | Net cash used for investing activities | $(1,634) | $(665) | | Net cash provided by (used for) financing activities | $(764) | $244 | | Change in cash and cash equivalents | $(474) | $1,641 | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) These notes detail significant accounting policies, segment performance, debt, and financial instruments, highlighting the Frankfurt delisting, nexAir acquisition, and ongoing legal contingencies - On March 1, 2023, the company completed an intercompany reorganization, resulting in its delisting from the Frankfurt Stock Exchange and a new holding company on the NYSE[23](index=23&type=chunk)[24](index=24&type=chunk) - The company recorded **$18 million** in 'Other charges' in Q1 2023, primarily due to the intercompany reorganization, with a **$45 million** net income tax benefit[27](index=27&type=chunk) - On January 5, 2023, Linde acquired the remaining 77% of nexAir, LLC for **$859 million**, generating **$458 million** in goodwill[94](index=94&type=chunk)[101](index=101&type=chunk) - As of March 31, 2023, Linde held approximately **$1.2 billion** in contract liabilities for advance payments related to suspended RusChemAlliance (RCA) engineering projects in Russia[67](index=67&type=chunk)[68](index=68&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2023 financial results, noting flat sales of **$8.2 billion**, a **16%** increase in adjusted operating profit to **$2.2 billion**, and a **17%** rise in adjusted EPS to **$3.42**, driven by pricing and productivity [Consolidated Results](index=25&type=section&id=Consolidated%20Results) Q1 2023 reported sales were flat at **$8.193 billion**, driven by **8%** price attainment offsetting currency and divestiture impacts, while adjusted operating profit increased **16%** to **$2.206 billion** Q1 2023 vs Q1 2022 Performance Summary | Metric | Q1 2023 | Q1 2022 | Variance | | :--- | :--- | :--- | :--- | | Sales | $8,193M | $8,211M | 0% | | Reported Operating Profit | $1,933M | $1,480M | +31% | | Adjusted Operating Profit | $2,206M | $1,905M | +16% | | Reported Diluted EPS | $3.06 | $2.30 | +33% | | Adjusted Diluted EPS | $3.42 | $2.93 | +17% | - Key factors influencing Q1 2023 sales included **+8%** from Price/Mix, offset by **-3%** from Currency, **-2%** from acquisitions/divestitures, **-2%** from Engineering, and **-1%** from cost pass-through[112](index=112&type=chunk) [Segment Discussion](index=29&type=section&id=Segment%20Discussion) Q1 2023 segment performance varied, with Americas sales up **10%** to **$3.6 billion**, EMEA up **1%** to **$2.2 billion**, APAC flat at **$1.6 billion**, and Engineering sales down **26%** to **$540 million** Sales by Segment (Q1 2023 vs Q1 2022) | Segment | Q1 2023 Sales (Millions USD) | Q1 2022 Sales (Millions USD) | Variance | | :--- | :--- | :--- | :--- | | Americas | $3,551 | $3,241 | +10% | | EMEA | $2,177 | $2,148 | +1% | | APAC | $1,598 | $1,602 | 0% | | Engineering | $540 | $728 | -26% | | Other | $327 | $492 | -34% | Operating Profit by Segment (Q1 2023 vs Q1 2022) | Segment | Q1 2023 Op. Profit (Millions USD) | Q1 2022 Op. Profit (Millions USD) | Variance | | :--- | :--- | :--- | :--- | | Americas | $1,025 | $904 | +13% | | EMEA | $607 | $503 | +21% | | APAC | $423 | $399 | +6% | | Engineering | $149 | $143 | +4% | | Other | $2 | $(44) | +105% | [Liquidity, Capital Resources and Other Financial Data](index=35&type=section&id=Liquidity%2C%20Capital%20Resources%20and%20Other%20Financial%20Data) Cash from operations decreased **5%** to **$1.9 billion** in Q1 2023, with increased capital expenditures and acquisitions, while financing activities included **$846 million** in share repurchases and **$623 million** in dividends - Cash from operations was **$1,908 million**, a **5%** decrease from the prior year, primarily due to higher working capital requirements[159](index=159&type=chunk) - Capital expenditures totaled **$829 million**, an increase from **$649 million** in Q1 2022[161](index=161&type=chunk) - The company repurchased a net **$846 million** of its ordinary shares and paid **$623 million** in dividends during the quarter[165](index=165&type=chunk)[166](index=166&type=chunk) - Linde's sale of gas backlog for large projects under construction was approximately **$4.2 billion** as of March 31, 2023[162](index=162&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=42&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This section confirms no material changes to the company's market risk disclosures compared to its 2022 Annual Report on Form 10-K - There were no material changes to market risk disclosures compared to the 2022 Annual Report on Form 10-K[194](index=194&type=chunk) [Item 4. Controls and Procedures](index=42&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of Q1 2023, with no material changes to internal control over financial reporting during the quarter - The principal executive and financial officers concluded that the company's disclosure controls and procedures are effective as of the quarter-end[196](index=196&type=chunk) - No material changes occurred during the quarter affecting the company's internal control over financial reporting[196](index=196&type=chunk) [PART II - OTHER INFORMATION](index=43&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=43&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 9 of the condensed consolidated financial statements for details on current legal proceedings - Details on current legal proceedings are provided in Note 9 to the condensed consolidated financial statements[198](index=198&type=chunk) [Item 1A. Risk Factors](index=43&type=section&id=Item%201A.%20Risk%20Factors) The company reports no material changes to the risk factors previously disclosed in its 2022 Annual Report on Form 10-K - There have been no material changes to the risk factors disclosed in the company's 2022 Annual Report on Form 10-K[199](index=199&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=43&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q1 2023, Linde repurchased **2.713 million** ordinary shares for approximately **$890 million**, with **$4.5 billion** remaining under the **$10 billion** repurchase program Share Repurchases - Q1 2023 | Period | Shares Purchased (Thousands) | Average Price Paid Per Share | | :--- | :--- | :--- | | January 2023 | 358 | $325.21 | | February 2023 | 2,136 | $326.37 | | March 2023 | 219 | $348.26 | | **First Quarter 2023 Total** | **2,713** | **$327.99** | - As of March 31, 2023, **$4.5 billion** in share repurchases remain authorized under the **$10 billion** program announced in February 2022, expiring July 31, 2024[200](index=200&type=chunk) [Item 6. Exhibits](index=44&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate governance documents, supplemental indentures, and officer certifications - Exhibits filed include the Amended and Restated Memorandum and Articles of Association, supplemental indentures, and certifications under Rule 13a-14(a) and Section 1350[204](index=204&type=chunk)

Table of Contents For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38730 LINDE PLC (Exact name of registrant as specified in its charter) 98-1448883 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ___________________________________ FORM 10-K _______________________________________________ ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) ...

Linde plc (NASDAQ:LIN) Q4 2022 Results Conference Call February 7, 2023 9:00 AM ET Company Participants Juan Pelaez - Head, IR Sanjiv Lamba - CEO Matt White - CFO Conference Call Participants Duffy Fischer - Goldman Sachs John McNulty - BMO Capital Markets Mike Leithead - Barclays Nicola Tang - BNP Paribas Jeff Zekauskas - JPMorgan David Begleiter - Deutsche Bank Peter Clark - Société Générale Kevin McCarthy - Vertical Research Partners John Roberts - Credit Suisse Steve Byrne - Bank of America Vincent Andr ...

Linde plc Investor Teleconference Presentation Third Quarter 2022 October 27, 2022 Making our world more productive Forward-Looking Statement This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are identified by terms and phrases such as: anticipate, believe, intend, estimate, expect, continue, should, could, may, plan, project, predict, will, potential, forecast, and similar expressions. They are ba ...

Linde plc (NASDAQ:LIN) Q3 2022 Earnings Conference Call October 27, 2022 9:00 AM ET Company Participants Juan Pelaez - Head of Investor Relations Sanjiv Lamba - Chief Executive Officer Matt White - Chief Financial Officer Conference Call Participants Peter Clark - Société Générale Duffy Fischer - Goldman Sachs Steven Richardson - Evercore ISI Steve Byrne - Bank of America Mike Leithead - Barclays Nicola Tang - Exane BNP Paribas Jeff Zekauskas - JPMorgan David Begleiter - Deutsche Bank Vincent Andrews - Morg ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38730 LINDE PLC (Exact name of registrant as specified in its charter) | Ireland | 98-1448883 | | --- | --- | | (Stat ...

Financial Data and Key Metrics Changes - Sales for Q2 2022 reached $8.5 billion, a 12% increase year-over-year and a 3% sequential increase [32] - Organic sales increased by 9% year-over-year and 4% sequentially, with gas volumes up by 2% primarily due to project startups [33] - Operating profit was $2 billion, resulting in a 23.5% margin, with operating margins expanding by 100 basis points year-over-year and 80 basis points sequentially [34][35] - EPS of $3.10 increased by 15% year-over-year, or 20% excluding foreign exchange impacts [39] Business Line Data and Key Metrics Changes - EMEA region saw volumes down 1% year-over-year but prices increased by 12% [14] - APAC segment reported a 3% increase in volumes year-over-year and a 5% sequential increase, with prices improving by 5% [18] - The Americas segment experienced organic growth of 9% year-over-year, driven by a 3% increase in volume and a 6% increase in price [22] Market Data and Key Metrics Changes - EMEA's on-site volumes remained stable, while merchant and packaged gases saw slight declines due to reduced COVID-related oxygen demand [15] - In July, China merchant volumes recovered to normal levels, indicating resilience despite previous lockdowns [20] - The U.S. packaged gas business grew by 16% year-over-year, led by sectors such as aerospace and construction [23] Company Strategy and Development Direction - The company emphasizes a resilient business model with two-thirds of its business protected through contractual fixed payments [10] - Focus on sustainability with a target to reduce absolute greenhouse gas emissions by 35% by 2035 [26] - The company is actively managing costs and pricing to maintain margins amid inflationary pressures [49] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating challenges posed by high energy prices and geopolitical tensions, particularly in Europe [12][51] - The company anticipates continued growth opportunities in the Americas, particularly in electronics and hydrogen projects [24][70] - Management highlighted the importance of maintaining a strong capital allocation strategy while pursuing growth opportunities [79] Other Important Information - A $1 billion charge was recorded due to the deconsolidation of Russian subsidiaries, impacting financial reporting but not operational resilience [6][30] - The company reported a reduction of 31% in GHG emissions compared to the 2018 baseline, ahead of its 2028 target [25] Q&A Session Summary Question: Visibility on non-pass through costs and pricing - Management indicated strong visibility on managing pricing against cost inflation, with a positive spread expected to continue [49] Question: Impact of high energy prices on customer viability - Management noted that while energy prices are high, most customers are adapting and finding ways to manage costs without significant business viability issues [51] Question: Take or pay contracts and operational reliability - Management explained that a significant portion of sales in Germany is protected by contracts, minimizing exposure to operational disruptions [55] Question: Long-term investment decisions in Europe - Management observed that customers are still considering investments in Europe, albeit with a focus on understanding risks associated with energy costs [60] Question: Rightsizing measures in engineering and other segments - Management confirmed ongoing rightsizing efforts across various segments, including engineering, to remain competitive [62][64] Question: Outlook for the electronics market - Management expressed optimism about the electronics market, highlighting strong customer relationships and technology advantages [70] Question: Return on capital and project returns - Management clarified that the high return on capital is driven by the integrated business model, which supports cash generation without heavy capital investment [85]

Linde plc Investor Teleconference Presentation Second Quarter 2022 July 28, 2022 Making our world more productive Forward-Looking Statement This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are identified by terms and phrases such as: anticipate, believe, intend, estimate, expect, continue, should, could, may, plan, project, predict, will, potential, forecast, and similar expressions. They are base ...