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Linde (LIN) Gears up to Report Q1 Earnings: What's in Store?
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Linde plc (LIN - Free Report) is set to report first-quarter 2024 results on May 2, before the opening bell.
In the last reported quarter, Linde’s earnings of $3.59 per share beat the Zacks Consensus Estimate of $3.50, owing to higher pricing from the Americas segment.
The leading global industrial gases and engineering company’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 4.19%. This is depicted in the graph below.
The Zacks Consensus Estimate for first-quarter earnings per share of $3.68 has witnessed one upward revision in the past 30 days. The bottom line implies an improvement of 7.6% from the prior-year quarter’s reported number.
The Zacks Consensus Estimate for first-quarter revenues of $8.36 billion indicates a year-over-year improvement of 2%.
Factors to Note
Linde is anticipated to have sustained a stable performance in the first quarter, supported by its long-term contracts with major on-site clients, ensuring stable cash flows. Since LIN produces industrial gases used across numerous industries, it is likely to have generated profit from its Americas business unit, contributing to its earnings. The Zacks Consensus Estimate for operating profit from the Americas segment is pegged at $1.12 billion, up from $1.03 billion reported in the first quarter of 2023.
However, challenges are likely to have loomed due to a sluggish global economy and geopolitical tensions. The Zacks Consensus Estimate for operating profit from the Engineering business unit is pegged at $93 million, down from $149 million reported in the prior-year period.
These factors are anticipated to have affected demand and pricing dynamics, which must have adversely impacted LIN’s financial performance in the quarter.
Earnings Whispers
Our proven model does not predict 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 -0.54%. 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 #2.
Stocks to Consider
Here are three firms that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
PBF Energy is scheduled to release first-quarter earnings on May 2. The Zacks Consensus Estimate for quarterly earnings is pegged at 55 cents per share, implying an 80.1% decline from the prior-year reported figure.
ConocoPhillips (COP - Free Report) presently has an Earnings ESP of +2.85% and a Zacks Rank #2.
ConocoPhillipsis scheduled to release first-quarter earnings on May 2. The Zacks Consensus Estimate for quarterly earnings is pegged at $2.09 per share, indicating a 12.2% decline from the prior-year reported number.
EOG Resources, Inc. (EOG - Free Report) currently has an Earnings ESP of +0.95% and a Zacks Rank #2.
EOG Resources is scheduled to release first-quarter earnings on May 2. The Zacks Consensus Estimate for quarterly earnings is pegged at $2.75 per share, indicating a 2.2% increase from the prior-year reported figure.
Image: Bigstock
Linde (LIN) Gears up to Report Q1 Earnings: What's in Store?
Linde plc (LIN - Free Report) is set to report first-quarter 2024 results on May 2, before the opening bell.
In the last reported quarter, Linde’s earnings of $3.59 per share beat the Zacks Consensus Estimate of $3.50, owing to higher pricing from the Americas segment.
The leading global industrial gases and engineering company’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 4.19%. 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 first-quarter earnings per share of $3.68 has witnessed one upward revision in the past 30 days. The bottom line implies an improvement of 7.6% from the prior-year quarter’s reported number.
The Zacks Consensus Estimate for first-quarter revenues of $8.36 billion indicates a year-over-year improvement of 2%.
Factors to Note
Linde is anticipated to have sustained a stable performance in the first quarter, supported by its long-term contracts with major on-site clients, ensuring stable cash flows. Since LIN produces industrial gases used across numerous industries, it is likely to have generated profit from its Americas business unit, contributing to its earnings. The Zacks Consensus Estimate for operating profit from the Americas segment is pegged at $1.12 billion, up from $1.03 billion reported in the first quarter of 2023.
However, challenges are likely to have loomed due to a sluggish global economy and geopolitical tensions. The Zacks Consensus Estimate for operating profit from the Engineering business unit is pegged at $93 million, down from $149 million reported in the prior-year period.
These factors are anticipated to have affected demand and pricing dynamics, which must have adversely impacted LIN’s financial performance in the quarter.
Earnings Whispers
Our proven model does not predict 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 -0.54%. 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 #2.
Stocks to Consider
Here are three firms that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
PBF Energy (PBF - Free Report) currently has an Earnings ESP of +14.10% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
PBF Energy is scheduled to release first-quarter earnings on May 2. The Zacks Consensus Estimate for quarterly earnings is pegged at 55 cents per share, implying an 80.1% decline from the prior-year reported figure.
ConocoPhillips (COP - Free Report) presently has an Earnings ESP of +2.85% and a Zacks Rank #2.
ConocoPhillipsis scheduled to release first-quarter earnings on May 2. The Zacks Consensus Estimate for quarterly earnings is pegged at $2.09 per share, indicating a 12.2% decline from the prior-year reported number.
EOG Resources, Inc. (EOG - Free Report) currently has an Earnings ESP of +0.95% and a Zacks Rank #2.
EOG Resources is scheduled to release first-quarter earnings on May 2. The Zacks Consensus Estimate for quarterly earnings is pegged at $2.75 per share, indicating a 2.2% increase from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.