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Linde (LIN) Gears up to Report Q2 Earnings: What's in Store?
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Linde (LIN - Free Report) is set to report second-quarter 2023 results on Jul 27, before the opening bell.
In the last reported quarter, Linde’s earnings of $3.42 per share beat the Zacks Consensus Estimate of $3.12, owing to increased prices and volumes.
The leading global industrial gases and engineering company beat the Zacks Consensus Estimate for earnings in each of the prior four quarters, delivering a surprise of 6.92%, on average. This is depicted in the graph below:
The Zacks Consensus Estimate for its second-quarter earnings per share of $3.47 has witnessed one downward revision in the past 30 days. The estimated figure suggests an improvement of 11.9% from the prior-year reported number.
The consensus estimate for second-quarter revenues of $8.7 billion indicates a 2.3% increase from the year-ago reported figure.
Factors to Note
Although industrial production in the United States declined year over year in June, it improved in April and May. Since Linde produces industrial gases used across numerous industries, the company is likely to have generated higher profit from its Americas business unit. The Zacks Consensus Estimate for its second-quarter 2023 operating profit from the unit is pegged at $1,070 million, suggesting an increase from $910 million reported in the second quarter of 2022.
Earnings Whispers
Our proven model does not indicate an earnings beat for Linde this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: Linde’s Earnings ESP is -1.85%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks to Consider
Here are a few firms in the basic materials space that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
ATI is scheduled to release second-quarter results on Aug 2. The Zacks Consensus Estimate for ATI’s earnings is pegged at 55 cents per share.
Ecolab (ECL - Free Report) has an Earnings ESP of +0.50% and a Zacks Rank of 2.
Ecolab is scheduled to report second-quarter results on Aug 1. The Zacks Consensus Estimate for its earnings is pegged at $1.21 per share, suggesting a year-over-year improvement.
Bunge Limited (BG - Free Report) has an Earnings ESP of +0.19% and a Zacks Rank #3.
Bunge Limited is scheduled to release second-quarter earnings on Aug 2. The Zacks Consensus Estimate for its earnings is pegged at $2.61 per share.
Image: Bigstock
Linde (LIN) Gears up to Report Q2 Earnings: What's in Store?
Linde (LIN - Free Report) is set to report second-quarter 2023 results on Jul 27, before the opening bell.
In the last reported quarter, Linde’s earnings of $3.42 per share beat the Zacks Consensus Estimate of $3.12, owing to increased prices and volumes.
The leading global industrial gases and engineering company beat the Zacks Consensus Estimate for earnings in each of the prior four quarters, delivering a surprise of 6.92%, on average. This is depicted in the graph below:
Linde PLC Price and EPS Surprise
Linde PLC price-eps-surprise | Linde PLC Quote
Trend in Estimate Revision
The Zacks Consensus Estimate for its second-quarter earnings per share of $3.47 has witnessed one downward revision in the past 30 days. The estimated figure suggests an improvement of 11.9% from the prior-year reported number.
The consensus estimate for second-quarter revenues of $8.7 billion indicates a 2.3% increase from the year-ago reported figure.
Factors to Note
Although industrial production in the United States declined year over year in June, it improved in April and May. Since Linde produces industrial gases used across numerous industries, the company is likely to have generated higher profit from its Americas business unit. The Zacks Consensus Estimate for its second-quarter 2023 operating profit from the unit is pegged at $1,070 million, suggesting an increase from $910 million reported in the second quarter of 2022.
Earnings Whispers
Our proven model does not indicate an earnings beat for Linde this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: Linde’s Earnings ESP is -1.85%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks to Consider
Here are a few firms in the basic materials space that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
ATI (ATI - Free Report) has an Earnings ESP of +1.08% and is a Zacks #2 Ranked player. You can see the complete list of today’s Zacks #1 Rank stocks here.
ATI is scheduled to release second-quarter results on Aug 2. The Zacks Consensus Estimate for ATI’s earnings is pegged at 55 cents per share.
Ecolab (ECL - Free Report) has an Earnings ESP of +0.50% and a Zacks Rank of 2.
Ecolab is scheduled to report second-quarter results on Aug 1. The Zacks Consensus Estimate for its earnings is pegged at $1.21 per share, suggesting a year-over-year improvement.
Bunge Limited (BG - Free Report) has an Earnings ESP of +0.19% and a Zacks Rank #3.
Bunge Limited is scheduled to release second-quarter earnings on Aug 2. The Zacks Consensus Estimate for its earnings is pegged at $2.61 per share.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.