Linde 2Q Profit Rose, Raises 2021 Views
July 30 2021 - 6:16AM
Dow Jones News
By Ed Frankl
Linde PLC said Friday that second-quarter profit rose amid
higher prices and strong volumes across all its markets, as it
raised its adjusted earnings per share guidance for the year.
The industrial gases and engineering company posted net income
of $840 million, or $1.60 a share, in the quarter to the end of
June, compared with $458 million, or $0.87 a share in the
prior-year period.
Excluding items, Linde reported an adjusted profit of $2.70 a
share for the quarter--an all-time high, Chief Executive Steve
Angel said.
Sales rose to $7.58 billion from $6.38 billion the same period
last year, Linde said.
The company raised its 2021 adjusted EPS guidance to be in the
range of $10.10 to $10.30, representing 23% to 25% growth
year-on-year, it said. The guidance assumes 3% currency tailwind
versus 2020, it added. Previously, Linde had forecast adjusted
earnings per share of $9.60 to $9.80.
Full-year capital expenditure is expected to be between $3
billion and $3.4 billion as it supports its project backlog. The
company said it ended the quarter with a backlog of around $7.5
billion.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
July 30, 2021 06:02 ET (10:02 GMT)
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