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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