Linde 3Q Profit Rose on High Demand, Raises 2021 EPS Views
October 28 2021 - 6:59AM
Dow Jones News
By Ed Frankl
Linde PLC said Thursday that third-quarter profit rose amid
strong demand, as it again raised its adjusted earnings per share
guidance for the year.
The industrial gases and engineering company posted net income
of $978 million, or $1.88 a share, in the quarter to the end of
September, compared with $699 million, or $1.32 a share in the
prior-year period.
Excluding items, Linde reported adjusted EPS of $2.73, 27% above
the prior year and 1% up quarter-on-quarter.
Sales rose to $7.67 billion from $6.86 billion in the same
period last year, Linde said.
The company raised its 2021 adjusted diluted EPS guidance to be
in the range of $10.52 to $10.62, representing a 43% to 45% rise
against 2019 and a 28% to 29% rise vs. 2020. Previously, Linde had
forecast adjusted earnings per share of $10.10 to $10.30
Third-quarter operating cash flow was $2.56 billion, up 36% on
the prior year and 40% sequentially. The company said it ended the
quarter with a backlog of around $13.4 billion, which was $7.5
billion at the end of 2Q.
Last week, Linde appointed Sanjiv Lamba to succeed Steve Angel
as chief executive, with Mr. Angel taking over from Wolfgang
Reitzle as the multinational company's new chairman.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
October 28, 2021 06:44 ET (10:44 GMT)
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