Linde raised the bottom end of its full-year earnings guidance and now expects adjusted EPS of $17.70 to $17.90, representing 8% to 9% growth, while its sale-of-gas backlog reached a record $8.1 billion after a $1 billion U.S. electronics win. CEO Sanjiv Lamba said the company plans to start up more than 20 projects totaling approximately $1.3 billion in investments this year and expects the backlog to finish the year with an 8 handle. Second-quarter sales rose 9% to $9.3 billion, and adjusted EPS of $4.50 grew 10% from the prior year, though operating margins excluding cost pass-through declined about 30 basis points, primarily due to the U.S. homecare business. Management said it is evaluating strategic options for that business and expects sequential margin improvement in the third quarter, while third-quarter EPS guidance was set at $4.45 to $4.55.
Linde plc Ordinary SharesRaised full-year EPS guidance and reported strong Q2 results with 10% EPS growth.