Financial Performance - Third-quarter sales reached $8.615 billion, a 3% increase year-over-year and a 1% increase sequentially[5] - Operating profit for the third quarter was $2.558 billion, a 3% increase year-over-year[5] - Diluted EPS for the third quarter was $4.21, a 7% increase year-over-year[5] - Operating cash flow for the third quarter was $2.9 billion, an 8% increase year-over-year[5] - The company's backlog is $10 billion[6] Capital Management - Year-to-date capital reinvestment in the business totaled $4.2 billion, a 23% increase year-over-year[12] - Net share repurchases amounted to $3.2 billion year-to-date[10, 12] - Base capex is projected at $1.9 billion year-to-date[10] Guidance - The company anticipates fourth-quarter adjusted EPS to be in the range of $4.10 to $4.20, representing a 3% to 6% increase compared to 2024[15] - Full-year 2025 adjusted EPS is expected to be between $16.35 and $16.45, a 5% to 6% increase versus 2024[15] - Capital expenditure (CAPEX) for 2025 is projected to be in the range of $5.0 billion to $5.5 billion[15] Regional Performance - Sales in the Americas increased by 6% year-over-year to $3.846 billion[18] - Sales in APAC increased by 1% year-over-year to $1.741 billion[22] - Sales in EMEA increased by 3% year-over-year to $2.178 billion[27]

Core Insights - Linde reported quarterly earnings of $4.21 per share, exceeding the Zacks Consensus Estimate of $4.18 per share, and up from $3.94 per share a year ago, representing an earnings surprise of +0.72% [1] - The company achieved revenues of $8.62 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 0.17% and increasing from $8.36 billion year-over-year [2] - Linde has consistently surpassed consensus EPS estimates over the last four quarters, indicating strong performance [2] Financial Performance - The earnings surprise for the previous quarter was +1.49%, with actual earnings of $4.09 per share compared to an expected $4.03 [1] - The current consensus EPS estimate for the upcoming quarter is $4.24, with expected revenues of $8.63 billion, and for the current fiscal year, the EPS estimate is $16.46 on revenues of $33.84 billion [7] Market Position - Linde shares have increased approximately 2.7% since the beginning of the year, while the S&P 500 has gained 16%, indicating underperformance relative to the broader market [3] - The Zacks Industry Rank for Chemical - Specialty is in the bottom 39% of over 250 Zacks industries, suggesting potential challenges for the sector [8] Future Outlook - The sustainability of Linde's stock price movement will depend on management's commentary during the earnings call and future earnings expectations [3][4] - The trend of estimate revisions for Linde was mixed prior to the earnings release, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6]

Financial Performance - Third-quarter 2025 net income was $1,929 million, up 24% year-over-year, with diluted earnings per share of $4.09, an increase of 27%[1] - Sales for the third quarter reached $8,615 million, a 3% increase compared to the prior year, with underlying sales up 2% from price attainment[2] - Adjusted operating profit was $2,558 million, up 3% year-over-year, with an adjusted operating profit margin of 29.7%, reflecting a 10 basis point increase[2] - Operating cash flow for the third quarter was $2,948 million, an 8% increase year-over-year, leading to free cash flow of $1,672 million after capital expenditures of $1,276 million[3] - For Q4 2025, the company expects adjusted diluted earnings per share in the range of $4.10 to $4.20, representing a 3% to 6% increase compared to the prior year[4] - Full-year 2025 adjusted diluted earnings per share guidance is projected to be between $16.35 and $16.45, indicating a 5% to 6% growth year-over-year[5] - Reported operating profit for the year to date September 30, 2025, is $6,905 million, reflecting an 8% increase compared to the same period in 2024[34] - Adjusted operating profit reached $7,552 million, with a 4% increase year-over-year[34] - Reported sales for the year to date September 30, 2025, totaled $25,222 million, up from $24,723 million in 2024, indicating a growth of 2%[34] - Adjusted net income for the year to date September 30, 2025, was $5,804 million, reflecting a 4% increase from $5,576 million in the same period of 2024[36] Segment Performance - Americas segment sales were $3,846 million, up 6% year-over-year, with operating profit margin at 31.2%[6] - APAC segment sales were $1,741 million, a 1% increase year-over-year, with operating profit margin at 28.1%[7] - EMEA segment sales reached $2,178 million, up 3% year-over-year, with operating profit margin at 35.9%[8] - Linde Engineering sales were $519 million, down 15% year-over-year, with an operating profit margin of 19.5%[9] - The Americas segment reported sales of $3.846 billion in Q3 2025, a 6.3% increase from $3.618 billion in Q3 2024[31] - The EMEA segment achieved sales of $2.178 billion in Q3 2025, up from $2.111 billion in Q3 2024[31] Cash Flow and Capital Expenditures - Capital expenditures for Q3 2025 were $1.276 billion, compared to $1.066 billion in Q3 2024[29] - Free cash flow for Q3 2025 was $1,672 million, significantly higher than $954 million in Q3 2024[46] Tax and Income Adjustments - Adjusted effective tax rate for Q3 2025 was 23.5%, compared to 22.7% in Q3 2024, indicating a slight increase in tax burden[35] - Reported effective tax rate for Q3 2025 was 21.9%, compared to 18.0% in Q3 2024, highlighting an increase in effective taxation[35] - Total adjustments for income taxes in Q3 2025 amounted to $264 million, compared to $46 million in Q3 2024, indicating higher adjustment costs[35] Earnings Per Share - Basic earnings per share for Q3 2025 were $4.11, an increase from $3.24 in Q3 2024[26] - Adjusted diluted EPS for Q3 2025 was $4.21, up 16% from $3.60 in Q3 2024[36] - Adjusted diluted EPS guidance for 2025 is projected between $16.35 and $16.45, indicating a 3% to 6% increase compared to 2024[36] Debt and Equity - Net debt as of September 30, 2025, was $21,416 million, an increase from $21,134 million in the previous quarter[48] - Total equity and redeemable noncontrolling interests increased to $40,086 million, compared to $39,986 million in the previous quarter[51] - Adjusted net debt rose to $21,412 million, up from $21,130 million in the prior quarter[51] Future Outlook - Future outlook indicates continued focus on market expansion and new product development strategies[34] - The company anticipates a currency headwind of approximately 2% impacting adjusted EPS for 2025[36]

Linde reported Q3 2025 adjusted EPS of $4.21 (+7% YoY) on sales of $8.62 billion (+3%), maintained industry-leading margins, and narrowed full-year adjusted EPS guidance to $16.35–$16.45 (+5%–6%). Despite flat volumes, pricing and cost discipline lifted adjusted operating profit to $2.56 billion (+3%) with a 29.7% margin (+10 bps), while operating cash flow rose 8% to $2.95 billion. Details: Headline figures: Net income was $1.93 billion (GAAP), with diluted EPS of $4.09 (+27%). Adjusted net income reach ...

Core Viewpoint - Linde, the world's largest industrial gases company, reported third-quarter results that exceeded market expectations, driven by higher pricing and ongoing productivity initiatives [1] Financial Performance - The company achieved third-quarter results above market expectations, indicating strong financial performance [1] - Higher pricing contributed significantly to the positive results, reflecting effective pricing strategies [1] - Continued productivity initiatives have played a crucial role in enhancing operational efficiency [1]

Core Insights - Linde plc reported strong financial results for Q3 2025, with net income of $1,929 million and diluted earnings per share (EPS) of $4.09, reflecting increases of 24% and 27% respectively compared to the previous year [2][3] - The company anticipates continued growth, projecting adjusted diluted EPS for Q4 2025 in the range of $4.10 to $4.20, which represents a year-over-year increase of 3% to 6% [5][6] Financial Performance - Total sales for Q3 2025 reached $8,615 million, a 3% increase year-over-year, with underlying sales up 2% driven by price increases, while volumes remained flat [3][8] - Adjusted operating profit for the quarter was $2,558 million, up 3% from the prior year, with an adjusted operating profit margin of 29.7%, which is 10 basis points higher than the previous year [3][8] - Operating cash flow for Q3 2025 was $2,948 million, an 8% increase year-over-year, leading to a free cash flow of $1,672 million after capital expenditures of $1,276 million [4][8] Segment Performance - In the Americas, sales were $3,846 million, up 6% year-over-year, with operating profit of $1,199 million, representing 31.2% of sales [7] - Asia Pacific (APAC) sales were $1,741 million, a 1% increase year-over-year, with operating profit of $490 million, accounting for 28.1% of sales [9] - EMEA (Europe, Middle East & Africa) sales reached $2,178 million, up 3% year-over-year, with an operating profit of $781 million, which is 35.9% of sales [10] - Linde Engineering reported sales of $519 million, down 15% year-over-year, with an operating profit of $101 million [11] Future Outlook - For the full year 2025, Linde expects adjusted diluted EPS to be in the range of $16.35 to $16.45, indicating a growth of 5% to 6% compared to the previous year [6][8] - Full-year capital expenditures are projected to be between $5.0 billion and $5.5 billion to support growth and maintenance, including a $7.1 billion contractual sale of gas project backlog [6]

Sanjiv Lamba, CEO of Linde, explains how he sees electricity demand changing and whether low-carbon hydrogen can ever become big business https://t.co/upg4StSMlc ...

Core Insights - Linde plc (LIN) is scheduled to report its third-quarter 2025 results on October 31, before the market opens [1][9] - The Zacks Consensus Estimate for third-quarter earnings per share is $4.18, reflecting a 6.09% increase year-over-year, while revenue is estimated at $8.6 billion, indicating a 2.93% year-over-year improvement [2][3][9] Q2 Earnings Highlights - In the previous quarter, Linde reported earnings of $4.09 per share, surpassing the Zacks Consensus Estimate of $4.03, driven by higher pricing and increased volumes from the Americas and EMEA segments [2] - Linde has consistently beaten earnings estimates over the past four quarters, with an average surprise of 1.08% [2] Performance Factors - Linde is a leader in industrial gas production, serving various end markets including healthcare, manufacturing, and chemicals [4] - The company is expected to maintain stable performance due to long-term contracts with major on-site clients and operations in resilient markets like healthcare and food and beverages [5] - However, macroeconomic challenges, particularly in Europe, may have weakened demand, affecting performance in cyclical markets such as metals, manufacturing, and energy [6] Segment Performance Estimates - The Zacks Consensus Estimate for operating profit in the Americas segment is $1.22 billion, an increase from $1.15 billion in Q3 2024 [7] - The Engineering business unit's operating profit estimate is $91 million, down from $108 million a year ago, which may impact demand and pricing dynamics [7] Earnings Prediction Insights - Linde's Earnings ESP is -1.30%, indicating that the model does not predict an earnings beat for this quarter [10]

Core Viewpoint - Linde plc has declared a quarterly dividend of $1.50 per share, reflecting the company's commitment to returning value to shareholders [1] Company Overview - Linde is a leading global industrial gases and engineering company with projected sales of $33 billion for 2024 [1] - The company focuses on providing high-quality solutions, technologies, and services aimed at enhancing productivity [1]

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