Linde plc(US:LIN)2025-10-31 10:45Financial 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]