Press release
Linde plc: Linde Reports Second-Quarter 2023 Results (Earnings Release Tables Attached)
Second-Quarter HighlightsSales $8.2 billion, down 3% YoY, underlying up 6%Operating profit $2.0 billion, adjusted operating profit $2.3 billion, up
About this update from Linde Plc
[{"type":"text","content":"Second-Quarter HighlightsSales $8.2 billion, down 3% YoY, underlying up 6%Operating profit $2.0 billion, adjusted operating profit $2.3 billion, up 15%Operating profit margin 24.5%; adjusted operating profit margin 27.9%, up 440 basis pointsEPS $3.19; adjusted EPS $3.57, up 15% YoYIncreased full-year 2023 adjusted EPS guidance to $13.80 - $14.00, represents 12% to 14% growth year-over-yearWOKING, UK / ACCESSWIRE / July 27, 2023 / Linde plc (NYSE:LIN) today reported second-quarter 2023 net income of $1,575 million and diluted earnings per share of $3.19, up 323% and 331% respectively. Excluding Linde AG purchase accounting impacts and other charges, adjusted net income was $1,760 million, up 12% versus prior year. Adjusted earnings per share was $3.57, 15% above prior year.Linde's sales for the second quarter were $8,204 million, 3% below prior year but 2% above when excluding cost pass-through and currency. Compared to prior year, underlying sales increased 6% from 7% price attainment slightly offset by 1% lower volumes.Second-quarter operating profit was $2,011 million. Adjusted operating profit of $2,286 million was up 15% versus prior year led by higher price and continued productivity initiatives across all segments. Adjusted operating profit margin of 27.9% was 440 basis points above prior year and 350 basis points higher when excluding the effects of cost pass-through.Second-quarter operating cash flow of $2,150 million increased 1% versus prior year. After capital expenditures of $859 million, free cash flow was $1,291 million. During the quarter, the company returned $1,523 million to shareholders through dividends and stock repurchases, net of issuances.Commenting on the financial results and business outlook, Chief Executive Officer Sanjiv Lamba said, \"Linde delivered another quarter of strong results, growing EPS 15%, ROC to 24.9% and expanding operating margins 440 basis points, reaching 27.9%. This performance is driven by our employees' ability to continuously optimize the base business and increase network density, all while securing high-quality growth opportunities.\"Lamba continued, \"Regardless of the geopolitical or economic uncertainty, we will continue to generate long-term shareholder value.\"For the third quarter of 2023, Linde expects adjusted diluted earnings per share in the range of $3.48 to $3.58, u...