LIN 10-Q Quarterly Reports

Linde plc reported a strong third quarter of 2025, with sales increasing by 3% year-over-year to $8.6 billion. This growth was primarily driven by higher pricing, productivity initiatives, and favorable currency translations, partially offset by cost inflation. The company's reported operating profit saw a significant 13% increase to $2.4 billion, with an operating margin of 27.5%, also boosted by lower cost reduction charges. On an adjusted basis, which excludes certain non-recurring items, Linde demonstrated continued operational strength. Adjusted operating profit rose 3% to $2.6 billion, with an improved operating margin of 29.7%. Diluted earnings per share (EPS) also showed robust growth, increasing by 27% on a reported basis to $4.09 and by 7% on an adjusted basis to $4.21. The company's cash flow from operations remained strong, providing ample liquidity to support investments and shareholder returns, including substantial share repurchases.

Linde plc reported solid financial results for the second quarter and first half of 2025, demonstrating continued growth and operational strength. Sales saw a healthy increase of 3% in the quarter and 1% year-to-date, driven primarily by higher pricing and strategic acquisitions, which helped offset a slight decline in volumes. The company's operating profit also showed robust growth, with a reported increase of 8% for the quarter and 6% year-to-date, reflecting effective pricing strategies and productivity initiatives that more than compensated for cost inflation. Adjusted metrics further underscore Linde's strong performance, with adjusted EPS rising by 6% for both the quarter and the year-to-date period. The company continues to manage its cost structure effectively, as evidenced by improvements in cost of sales as a percentage of sales and well-controlled SG&A expenses. Furthermore, Linde maintained significant capital allocation flexibility, with strong operating cash flow and substantial share repurchase activity, underscoring its commitment to shareholder returns and ongoing investment in growth opportunities.

Linde plc reported flat sales of $8,112 million for the first quarter of 2025 compared to the prior year, with growth primarily driven by higher pricing and acquisitions, partially offset by negative currency translation and a slight volume decline. Despite flat top-line performance, operating profit on a reported basis increased 4% to $2,184 million, and on an adjusted basis, it rose 4% to $2,438 million. This improvement was attributed to strong pricing, productivity initiatives, and lower SG&A expenses, which more than offset cost inflation and other charges. Diluted earnings per share (EPS) also saw a 5% increase, reaching $3.51 on a reported basis and $3.95 on an adjusted basis, reflecting robust operational execution and efficient cost management. Key financial metrics demonstrate resilience, with Adjusted EBITDA growing 3% year-over-year to $3,213 million. The company generated strong operating cash flow of $2,161 million, an 11% increase from the prior year, supporting increased capital expenditures of $1,270 million for new plant and production equipment. Linde also continued its robust share repurchase program, buying back $2,417 million in the quarter, and increased its quarterly dividend by 8%. The company maintains a strong liquidity position with significant undrawn revolving credit facilities.

Linde PLC's third-quarter 2024 report (filed October 30, 2024) indicates a period of steady performance, with reported sales increasing by 2% year-over-year to $8.36 billion. This growth was primarily driven by a 2% increase in pricing, while volumes remained flat due to a balance between base volume declines and new project start-ups. Adjusted operating profit saw a more significant increase of 7% to $2.48 billion, reflecting strong pricing power and productivity gains that more than offset cost inflation and currency headwinds. The company also demonstrated a commitment to shareholder returns through substantial share repurchases and a dividend increase. Key financial metrics show resilience, with reported net income slightly down 1% to $1.55 billion, impacted by higher cost reduction charges, but adjusted net income rose 6% to $1.90 billion. Diluted earnings per share (EPS) saw a modest 1% increase on a reported basis to $3.22, while adjusted diluted EPS grew a robust 9% to $3.94. The company's operational segments, particularly the Americas and EMEA, showed solid operating profit growth, underscoring broad-based strength. Despite some currency translation headwinds and increased interest expenses, Linde maintains a strong liquidity position and ample financial flexibility.

Linde plc reported solid results for the second quarter and first half of 2024, demonstrating resilience and strategic execution. Total sales saw a modest 1% increase year-over-year for the quarter, driven primarily by higher pricing, which more than offset slight volume declines and negative currency translation impacts. The company continued to benefit from productivity initiatives. Reported operating profit increased by 9% for the quarter and 8% for the six-month period, with adjusted operating profit showing similar strength at 6% growth for both periods, underscoring effective cost management and pricing power. Diluted Earnings Per Share (EPS) also showed positive momentum, with reported EPS up 8% in the quarter and 9% year-to-date. The company's robust cash flow generation is evident, with cash provided by operations totaling $3,883 million for the first six months. Linde also continued its commitment to shareholder returns through significant share repurchases and dividend payments, underscoring a focus on both operational efficiency and capital allocation.

Linde plc reported solid financial results for the first quarter of 2024, demonstrating resilience and effective operational management. While reported sales saw a slight decrease of 1% to $8.1 billion compared to the prior year, driven by cost pass-through and lower volumes, adjusted operating profit increased by a robust 6% to $2.34 billion. This growth was underpinned by higher pricing and significant productivity initiatives, which more than offset inflationary pressures and volume declines. Profitability metrics showed strong improvement, with reported operating profit up 8% to $2.1 billion and adjusted diluted earnings per share (EPS) rising 10% to $3.75. The company also continued its commitment to shareholder returns, with significant share repurchases and a notable increase in quarterly dividends. Linde maintains a strong liquidity position with substantial cash on hand and undrawn credit facilities, indicating financial stability and flexibility.

Linde plc reported solid financial results for the third quarter and the first nine months of 2023, demonstrating resilience and operational strength. While reported sales saw a year-over-year decrease of 7% for the quarter and 4% for the nine-month period, this was largely driven by factors like cost pass-through and a planned divestiture of the GIST business, which are not indicative of core operational performance. Crucially, adjusted operating profit increased by 15% for both the quarter and the nine-month period, showcasing the company's ability to drive profitability through pricing initiatives and productivity gains, which more than offset cost inflation and lower volumes. Key metrics like adjusted diluted earnings per share (EPS) also showed significant year-over-year growth, up 17% for the quarter and 16% for the nine months. The company's financial health remains robust, supported by strong operating cash flow generation and a significant share repurchase program. Linde's strategic focus on pricing and efficiency continues to yield positive results, positioning the company favorably despite a fluctuating global economic landscape.

Linde plc reported strong second quarter 2023 results, demonstrating resilience and operational efficiency. Despite a slight decrease in reported sales due to factors like currency fluctuations and divestitures, the company's adjusted operating profit increased by a notable 15% year-over-year. This growth was primarily driven by effective pricing strategies and productivity initiatives, which more than offset rising costs and unfavorable currency movements. The company also saw a significant increase in reported net income and diluted EPS, largely due to the absence of substantial charges incurred in the prior year related to the conflict in Ukraine. From a segment perspective, the Americas, EMEA, and APAC regions all showed robust growth in operating profit, indicating broad-based strength across its core industrial gases business. While the Engineering segment experienced a sales decline due to project timing, its operating profit remained stable, supported by higher margins on winding down sanctioned Russian projects. Linde's financial position remains strong, with solid cash flow from operations and ample liquidity, supported by significant share repurchase activity and dividend payments.

Linde plc reported strong financial performance for the first quarter of 2023, demonstrating significant year-over-year growth in both reported and adjusted metrics. Sales remained relatively flat year-over-year at $8,193 million, but this was a result of various offsetting factors including currency headwinds and divestitures, which were counterbalanced by strong price attainment and acquisitions. The company showcased robust operating profit growth of 31% on a reported basis and 16% on an adjusted basis, driven by effective pricing strategies and productivity initiatives. Profitability metrics saw substantial improvements, with reported diluted EPS rising 33% to $3.06 and adjusted diluted EPS increasing 17% to $3.42. This performance underscores Linde's operational efficiency and its ability to navigate inflationary pressures. The company's strategic focus on pricing and cost management, coupled with contributions from acquisitions like nexAir, contributed to these positive results across its segments, particularly in the Americas and EMEA regions. The company also maintained a strong liquidity position with substantial cash on hand and undrawn credit facilities.

Linde plc reported a strong third quarter for 2022, demonstrating robust sales and earnings growth. Total sales increased by 15% year-over-year, driven by a combination of higher pricing (8%) and increased volumes (3%), alongside an 8% contribution from cost pass-through mechanisms. This top-line growth translated into a significant increase in profitability, with reported operating profit up 25% and adjusted operating profit up 11%. Diluted earnings per share (EPS) from continuing operations saw a substantial increase of 35% on a reported basis and 14% on an adjusted basis, signaling effective operational management and pricing power. The company's performance was broad-based across its segments, with notable sales growth in the Americas (20%) and Engineering (38%). Despite inflationary pressures and unfavorable currency movements (which negatively impacted sales by 7%), Linde successfully navigated these challenges through pricing strategies, productivity initiatives, and cost pass-through. The company also continued its commitment to shareholder returns, with significant share repurchases during the quarter. Looking ahead, Linde's diversified business model and strategic focus on essential industrial gases position it well to manage economic uncertainties.

Linde plc reported strong top-line growth in the second quarter of 2022, with sales increasing by 12% year-over-year, driven by a combination of higher pricing, volume increases, and cost pass-through mechanisms. While reported operating profit saw a significant decline due to substantial charges related to the Russia-Ukraine conflict and the deconsolidation of Russian subsidiaries, adjusted operating profit demonstrated robust growth of 8% for the quarter, indicating the underlying strength of its core business operations. On a per-share basis, reported diluted EPS from continuing operations fell significantly, largely impacted by the aforementioned charges and a higher effective tax rate. However, adjusted diluted EPS from continuing operations saw a healthy increase of 15%, underscoring the company's ability to generate value for shareholders despite geopolitical headwinds. The company also continued its aggressive share repurchase program, returning substantial capital to investors.

Linde plc reported strong first-quarter 2022 results, demonstrating robust growth driven by increased pricing and volume across its key segments. Sales surged by 13% year-over-year, reaching $8.21 billion, with adjusted diluted earnings per share (EPS) also showing a healthy 18% increase to $2.93. The company benefited from effective price attainment, which contributed significantly to sales growth, and solid volume increases in most end markets, particularly in the Americas and APAC regions. Despite inflationary pressures, Linde's operational efficiencies and cost reduction programs helped maintain strong operating margins, with adjusted operating profit growing 13% to $1.91 billion. Financially, Linde exhibited strong cash flow generation from operations, amounting to $2.00 billion, although this was a slight decrease from the prior year due to working capital needs. The company actively managed its capital structure, with significant debt issuances and a substantial increase in share repurchases, underscoring its commitment to returning capital to shareholders and enhancing shareholder value. Management expressed confidence in the company's financial position and liquidity, with ample cash reserves and an undrawn revolving credit facility.

Linde plc reported strong financial results for the third quarter and the first nine months of 2021, showcasing robust growth across key metrics. Sales increased by 12% year-over-year for the quarter to $7.7 billion, driven by a combination of higher volumes (8%) and price attainment (3%), along with favorable currency translations. This top-line growth translated into significant bottom-line improvements, with reported diluted EPS from continuing operations surging by 42% to $1.88 for the quarter. The company's adjusted operating profit also demonstrated substantial growth, up 19% to $1.8 billion for the quarter, highlighting operational efficiencies and effective pricing strategies. Geographically, the Americas and EMEA segments were standout performers, with double-digit sales growth and significant operating profit increases. The APAC segment also showed positive momentum, albeit at a more moderate pace, while the Engineering segment experienced a sales decline due to project timing. Linde's strong cash flow generation from operations, a significant increase in share repurchases, and a commitment to returning capital to shareholders through dividends underscore a healthy financial position and a focus on shareholder value.

Linde plc reported a strong second quarter for 2021, demonstrating significant financial performance improvements compared to the prior year. Sales increased by 19% year-over-year to $7.58 billion, driven by a combination of higher volumes (15%) and increased pricing (3%), further boosted by a favorable currency translation impact of 6%. The company's profitability saw substantial growth, with reported operating profit surging 93% to $1.14 billion and adjusted operating profit climbing 39% to $1.84 billion. This robust performance translated into a significant earnings per share (EPS) increase, with reported diluted EPS from continuing operations rising 84% to $1.60 and adjusted diluted EPS jumping 42% to $2.70. Geographically, the Americas, EMEA, and APAC segments all exhibited strong sales growth, with double-digit volume increases and positive contributions from pricing and currency. The Engineering segment experienced a sales decline, attributed to project timing. From a cash flow perspective, Linde generated $3.94 billion in operating cash flow for the first six months of 2021, a notable increase from the previous year. The company also continued its capital allocation strategy, returning significant capital to shareholders through dividends and share repurchases, while maintaining a strong liquidity position.

Linde plc reported a strong first quarter of 2021, with a significant increase in both reported and adjusted financial metrics compared to the prior year. Sales grew by 7% to $7.24 billion, driven by higher volumes and pricing across key end markets such as healthcare, electronics, and cyclical industries. The company also benefited from favorable currency translations, particularly in EMEA and APAC. Adjusted operating profit surged by 25% to $1.69 billion, reflecting effective productivity initiatives and cost management. Diluted earnings per share (EPS) on an adjusted basis saw a substantial 32% increase to $2.49, demonstrating the company's operational efficiency and leverage. The company also highlighted robust cash flow from operations, up 57% to $2.11 billion, and initiated a new $5 billion share repurchase program, underscoring confidence in its financial position and commitment to returning capital to shareholders.

Linde plc reported third-quarter 2020 results that showed resilience amidst a challenging global economic environment impacted by COVID-19. While reported sales saw a modest decrease of 2% year-over-year to $6.86 billion, adjusted operating profit increased by 9% to $1.52 billion, demonstrating effective cost management and pricing strategies. The company also reported a 2% increase in adjusted EBITDA from continuing operations to $2.23 billion, indicating strong operational performance. The report highlights the company's ability to navigate the macroeconomic slowdown through higher pricing and successful cost reduction programs, which offset volume declines. Management emphasized the company's strong project backlog of approximately $8.6 billion as a key indicator of future sales growth. Despite ongoing uncertainties related to the pandemic, Linde plc maintained a solid financial position with $5.2 billion in cash and an undrawn $5 billion credit facility, underscoring its liquidity and financial flexibility.

Linde plc's second quarter 2020 results reflect the impact of the global macroeconomic slowdown driven by the COVID-19 pandemic, with reported sales declining 11% year-over-year. Despite the revenue dip, the company demonstrated resilience, particularly in its adjusted operating profit, which remained flat for the quarter. This stability was achieved through effective cost management, including productivity initiatives and cost reduction programs, which helped offset lower volumes and unfavorable currency movements. Adjusted diluted earnings per share (EPS) saw a modest increase of 4%, highlighting operational efficiency and share repurchases. Looking ahead, Linde's substantial project backlog of approximately $8.6 billion provides a foundation for future growth, particularly in the electronics, chemicals, and energy sectors. The company maintains a strong liquidity position with $4.9 billion in cash and an undrawn $5 billion revolving credit facility, underscoring its ability to navigate current economic uncertainties and fund ongoing operations and strategic initiatives.

Linde PLC's first quarter 2020 results indicate resilience despite a 3% year-over-year sales decline to $6.739 billion, primarily driven by unfavorable currency translation and lower volumes, partially offset by price increases. The company demonstrated strong operational efficiency and cost management, leading to a significant increase in reported operating profit (up 20% to $733 million) and adjusted operating profit (up 11% to $1,352 million). This performance was supported by cost reduction initiatives and higher pricing across segments. Diluted EPS from continuing operations saw a substantial increase of 35% on a reported basis ($1.07) and 12% on an adjusted basis ($1.89), partly due to share repurchases reducing outstanding shares. While the company faces uncertainties due to the COVID-19 pandemic, which has impacted volumes, particularly in APAC, its diverse geographic and end-market exposure, coupled with a substantial project backlog of approximately $9.4 billion, provides a foundation for future growth. The company also executed significant share repurchases during the quarter, reflecting a commitment to returning capital to shareholders. Linde's strong cash flow from operations ($1.347 billion) and ample liquidity position it to navigate current challenges.

Linde plc's Q3 2019 results reflect the significant impact of the merger with Praxair, which closed in October 2018. On a reported basis, sales surged by 133% year-over-year, largely driven by the consolidation of Linde AG's operations. While reported earnings per share (EPS) saw a decline due to a higher share count, the company highlights improved performance on a pro forma and adjusted pro forma basis, which aims to provide a more comparable view of operational performance. Adjusted pro forma EPS increased by 26% for the quarter, indicating underlying business strength post-merger. The company continues to navigate merger-related integration and divestitures. Significant progress has been made on merger-related divestitures required by regulatory authorities, with remaining divestitures expected to conclude in late 2019 and 2020. Operational improvements are evident through increased pro forma sales driven by volume and price, and effective cost management, which improved SG&A as a percentage of sales. The company also maintains a substantial backlog of sale of gas projects, signaling future growth opportunities, particularly in the APAC and Americas regions.

Linde plc's second quarter 2019 filing reflects the significant impact of its merger with Praxair, completed in late 2018. Reported sales surged by 137% year-over-year to $7.2 billion due to the consolidation of Linde AG's operations. However, reported operating profit declined 3% to $669 million, primarily due to purchase accounting impacts and merger-related charges. On a pro forma basis, which aims to provide a more comparable view by assuming the merger occurred at the beginning of 2017, sales were flat at $7.18 billion, while pro forma operating profit saw a modest 1% increase to $728 million. Adjusted pro forma figures, which exclude certain non-recurring items, offer a clearer picture of underlying operational performance. Adjusted pro forma operating profit increased 6% to $1.32 billion, and adjusted pro forma diluted EPS rose 12% to $1.83, indicating positive operational momentum despite the complexities of integration and divestitures. The company is actively managing merger-related divestitures, with a substantial backlog of large projects under construction totaling $4.7 billion, signaling potential future growth, particularly in the APAC and Americas segments.

Linde plc's first quarter 2019 10-Q filing reflects the significant impact of its merger with Praxair, which closed on October 31, 2018. While reported sales surged 133% due to the consolidation of the acquired entity, reported operating profit and EPS declined significantly due to merger-related costs, purchase accounting impacts, and a higher share count. However, a pro forma and adjusted pro forma analysis reveals a more stable underlying performance. Pro forma sales were flat year-over-year, indicating that underlying operational trends were largely consistent, while adjusted pro forma operating profit and EPS showed modest growth of 1% and 12%, respectively. The company is actively managing its balance sheet, indicated by substantial debt repayments and significant share repurchases under newly approved programs. Strategic divestitures related to anti-trust approvals are ongoing, with the sale of Linde AG's Americas business contributing $3.4 billion in cash during the quarter. The company's backlog for large projects under construction stands at $3.5 billion, signaling future revenue potential, primarily in the electronics, chemicals, and energy sectors. Management emphasizes the importance of pro forma and adjusted pro forma metrics for a comparable view of performance, given the transformative nature of the merger. Investors should focus on these non-GAAP measures to assess operational trends and the integration progress.

Linde plc's 10-Q filing for the period ending September 29, 2018, primarily reflects the pre-business combination activities of the newly formed entity. The company had not conducted any material operations other than those incidental to its formation. Significant expenses were incurred related to accounting and advisory services for the business combination, and a cash management agreement with Praxair International Finance UC was in place to finance working capital obligations, which terminated upon the closing of the business combination. Investors should note that Linde plc became the successor issuer to Praxair, Inc. on October 31, 2018, in connection with the business combination. Therefore, the financial results reported in this 10-Q largely pertain to the formation and preparatory stages of Linde plc, with the actual combined operations of Linde and Praxair beginning post-period. The filing also highlights a broad range of forward-looking risks and uncertainties that could materially impact future results, including integration challenges, synergy realization, and various market and regulatory factors.

Linde plc's October 30, 2017, 10-Q filing indicates that the company is in its nascent stages, primarily focused on the pending business combination with Praxair. As of September 29, 2017, Linde plc has not conducted any material operational activities beyond those related to its formation and the execution of the business combination agreement. Financial activities are limited to expenses incurred for advisory services and a €30 million cash management agreement with Praxair International Finance UC, primarily used for SEC registration fees.