Press release
Linde plc: Linde Reports First-Quarter 2020 Results (Earnings Release Tables Attached)
Financial HighlightsStrong operating cash flow of $1.3 billion, up 26% versus prior yearRobust balance sheet with ample liquidity for growth
About this update from Linde Plc
[{"type":"text","content":"Financial HighlightsStrong operating cash flow of $1.3 billion, up 26% versus prior yearRobust balance sheet with ample liquidity for growth opportunitiesOperating profit of $0.7 billion, up 20% versus prior year; adjusted operating profit of $1.4 billion up 11%Operating profit margin up 210 bps, adjusted operating profit margin up 240 bps versus prior yearEPS of $1.07 up 35% versus prior year, adjusted EPS of $1.89 up 12%GUILFORD, UK / ACCESSWIRE / May 7, 2020 / Linde plc (NYSE:LIN)(FWB:LIN) today reported first-quarter 2020 income from continuing operations of $571 million and diluted earnings per share of $1.07. Excluding Linde AG purchase accounting impacts and other charges, adjusted income from continuing operations was $1,009 million, up 9% versus prior year. Adjusted earnings per share were $1.89, 12% above prior year, or 15% higher when excluding negative currency translation effects.Linde's sales for the first quarter were $6,739 million, 1% above prior year, excluding negative currency translation and cost pass-through. Price improved 2% and was attained across all geographic segments, but was partially offset by volume decrease of approximately 1% due mainly to the impact of the COVID-19 pandemic.First-quarter operating profit was $733 million. Adjusted operating profit of $1,352 million was 11% above prior year or 14% higher when excluding unfavorable currency translation effects.First-quarter operating cash flow of $1,347 million increased $279 million or 26% over prior year. During the quarter, the company invested $803 million in capital expenditures and returned $2,326 million to shareholders through dividends of $511 million and stock repurchases, net of issuance, of $1,815 million.Commenting on the financial results, Chief Executive Officer Steve Angel said, \"Linde delivered another strong quarter with EPS increasing 15%, excluding currency translation. Furthermore, operating cash flow grew 26% and operating profit margin expanded 240 basis points from prior year.\"\"Linde entered 2020 with a very robust balance sheet, $10 billion of contractually secured backlog and significant opportunities to enhance the portfolio and overall business quality - all of which will serve us well during these uncertain times. And, we continue to successfully navigate this crisis through the dedication and hard work of all Lind...