Linde plc (LIN) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

there will be a question and answer session. And I would now like to hand the conference over to Mr. Juan Pelaez, Head of Investor Relations. Please go ahead, sir. I appreciate it, Abby. Good morning, everyone. Thank you for attending our 2025 second quarter earnings call webcast. I am Juan Pelaez, Head of Investor Relations, and I'm joined this morning by Sanjeev Lamba, Chief Executive Officer, Matt White, Chief Financial Officer. Today's presentation materials are available on our website at thelindy.com in the Investor section. Please read the forward-looking statement disclosure on page two of the slides and note that it applies to all statements made during this teleconference. The reconsideration of the adjusted numbers are in the appendix of this presentation. Sanjeev will provide some opening remarks and then Matt will give an update on Lindy's second quarter financial performance and outlook, after which we will wrap up with Q&A. So now let me turn the call over to Sanjeev. Thanks a lot and good morning, everyone. I'd like to thank our Lindy employees for once again delivering solid results. EPS of $4.09 and operating margin of .1% both represent all-time quarterly highs against the backdrop of a challenging macro environment. Operating cash flows grew 15% and ROC of .1% continues to comfortably lead the industry and these results are underpinned by a healthy balance sheet that ensures access to low-cost capital. Overall, Q2 was a successful quarter, which Matt will provide some more details. But before that, I'd like to review one of my top priorities, which is to ensure future growth for Lindy. Slide three highlights the sale of a cash project backlog, which is one key element of that future growth. One cannot discuss project backlog without first aligning...