Press release
Linde plc: Linde Reports Third-Quarter 2021 Results (Earnings Release Tables Attached)
Financial HighlightsSales $7.7 billion, up 12% versus prior-year quarterOperating profit $1.3 billion; adjusted operating profit $1.8 billion, up 19%Operating
About this update from Linde Plc
[{"type":"text","content":"Financial HighlightsSales $7.7 billion, up 12% versus prior-year quarterOperating profit $1.3 billion; adjusted operating profit $1.8 billion, up 19%Operating profit margin 16.8%; adjusted operating profit margin 23.6%, up 150 basis pointsEPS $1.88, up 42%; adjusted EPS $2.73, up 27%Strong operating cash flow $2.6 billion, up 36%Increased full-year 2021 adjusted EPS guidance to $10.52 - $10.62, representing 28% to 29% growthGUILDFORD, UK / ACCESSWIRE / October 28, 2021 / Linde plc (NYSE:LIN; FWB:LIN) today reported third-quarter 2021 income from continuing operations of $978 million and diluted earnings per share of $1.88, an increase of 42% versus prior year. Excluding Linde AG purchase accounting impacts and other charges, adjusted income from continuing operations was $1,421 million, up 25% versus prior year and flat sequentially. Adjusted earnings per share was $2.73, 27% above prior year and 1% higher sequentially.Linde's sales for the third quarter were $7,668 million, 12% above prior year and up 1% sequentially. Compared to prior year, underlying sales increased 11%, including 3% price attainment and 8% higher volumes. Volume growth was broad-based across all geographic segments and end markets. Sequentially, underlying sales increased 1% driven by higher price.Third-quarter operating profit was $1,292 million. Adjusted operating profit of $1,810 million was up 19% versus prior year led by higher price, strong volumes and continued productivity initiatives across all segments. Adjusted operating margin of 23.6% expanded 150 basis points versus prior year and 220 basis points when excluding the effects of cost pass-through. Sequentially, operating margins were stable when excluding cost pass-through. Cost pass-through represents the contractual billing of energy cost variance, primarily to onsite customers, with minimal effect on profit.Third-quarter operating cash flow of $2,556 million increased 36% versus prior year and 40% sequentially. After capital expenditures of $741 million, free cash flow was $1,815 million, up 65% versus prior year and 68% sequentially. During the quarter, the company returned $1,708 million to shareholders through dividends and stock repurchases, net of issuance.In addition, the company ended the third quarter with a total backlog of approximately $13.4 billion which includes both sale of gas a...