Press release
Linde Reports Third-Quarter 2020 Results (Earnings Release Tables attached)
Linde Reports Third-Quarter 2020 ResultsFinancial HighlightsOperating profit margin 14.1%; adjusted operating profit margin 22.1%, up 230 basis points versus
About this update from Linde Plc
[{"type":"text","content":"Linde Reports Third-Quarter 2020 ResultsFinancial HighlightsOperating profit margin 14.1%; adjusted operating profit margin 22.1%, up 230 basis points versus prior yearEPS of $1.32; adjusted EPS of $2.15, up 11%Strong free cash flow of $1.1 billion, up 20%Increased full-year 2020 adjusted EPS guidance to $8.05 - $8.10, represents 12% growth year-over-year, ex-FX*GUILDFORD, UK / ACCESSWIRE / November 5, 2020 / Linde plc (NYSE:LIN)(FWB:LIN) today reported third-quarter 2020 income from continuing operations of $699 million and diluted earnings per share of $1.32. Excluding Linde AG purchase accounting impacts and other charges, adjusted income from continuing operations was $1,140 million, up 8% versus prior year and 13% sequentially. Adjusted earnings per share was $2.15, 11% above prior year and 13% higher sequentially.Linde's sales for the third quarter were $6,855 million, 2% below prior year and up 7% sequentially. Compared to prior year, excluding the impacts of foreign currency, cost pass-through and divestitures, underlying sales decreased 1%, as 2% price attainment was more than offset by 3% lower volumes. Sequentially, industrial gas volumes increased 6% but were partially offset by a 3% decrease in Engineering sales. Higher pricing of 1% was driven by increases across all geographic segments.Third-quarter operating profit was $969 million. Adjusted operating profit of $1,515 million was up 9% versus prior year led by prudent price and cost management underpinned by the stable fixed payment revenue structure. Adjusted operating margin of 22.1%, expanded 230 basis points versus prior year and 140 basis points sequentially.Third-quarter operating cash flow of $1,884 million increased 1% versus prior year and 7% sequentially. After capital expenditures of $787 million, free cash flow was $1,097 million, up 20% versus prior year. In the quarter, the company returned $692 million to shareholders through dividends and stock repurchases, net of issuance.Commenting on the financial results and business outlook, Chief Executive Officer Steve Angel said, \"Linde employees once again delivered a strong quarter with operating profit margins expanding 230 basis points and EPS growing 11%, reaching a record of $2.15. This high level of profitability combined with disciplined capital management resulted in further expansion of our ROC ...