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Linde (LIN) Q1 Earnings Beat Estimates on Higher Prices
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Linde plc (LIN - Free Report) announced first-quarter 2022 adjusted earnings from continuing operations of $2.93 per share, surpassing the Zacks Consensus Estimate of $2.78 and improving from the year-ago profit of $2.49.
Total revenues of $8,211 million beat the Zacks Consensus Estimate of $8,059 million and improved from the year-ago quarter’s $7,243 million.
The strong results were driven by increased prices and volumes from electronics, energy and chemicals end markets.
Operating profit of Linde in the Americas segment was up 13.7% year over year to $904 million on higher pricing and volumes, thanks to increased prices and volumes aided by manufacturing, chemicals and energy end market.
Linde’s profit in the EMEA segment increased 11.5% year over year to $503 million, thanks to a spike in pricing.
Profit in the APAC segment increased 13.7% year over year to $399 million on an uptick in prices and volumes, aided by strong electronics, energy and chemicals end markets.
Operating profit of Linde in the Engineering segment increased to $143 million from the prior-year $109 million.
Backlogs
At the end of the March quarter, the company’s total backlog was recorded at roughly $6 billion, comprising a sale-of-gas backlog of $3.5 billion.
Capital Investment & Balance Sheet
Linde reported capital expenditure for the March quarter at $649 million. The company ended the first quarter with cash and cash equivalents of $4.5 billion. Linde’s long-term debt was $12.8 billion, representing debt to capitalization of 27.1%.
Guidance
For the March quarter, Linde projects adjusted earnings per share in the band of $2.90 to $3.00. For 2022, Linde expects adjusted earnings per share in the band of $11.65 to $11.90.
Zacks Rank & Stocks to Consider
Linde currently carries a Zacks Rank #3 (Hold). Meanwhile, a few better-ranked players belonging to the same space include Dow Inc. (DOW - Free Report) , Kronos Worldwide, Inc. (KRO - Free Report) and Univar Solutions Inc. . While Dow and Kronos Worldwide carry a Zacks Rank #2 (Buy), Univar sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Dow is a well-known name in providing various materials science solutions. In first-quarter 2022, Dow beat the Zacks Consensus Estimate for earnings.
In the past seven days, Dow has witnessed upward earnings estimate revisions for 2022 and 2023.
Kronos is a leading producer and marketer of titanium dioxide pigments. Kronos is likely to see earnings growth of 30.6% and 6.3% in 2022 and 2023, respectively.
In the last 60 days, Kronos has witnessed upward earnings estimate revisions for 2022 and 2023, respectively.
Univar Solutions is also a well-known name since it is leading distributor of commodity and specialty chemical products. Univar Solutions is likely to post first-quarter results on May 9.
In 2022 and 2023, Univar Solutions is likely to see earnings growth of 18.5% and 5.1%, respectively.
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Linde (LIN) Q1 Earnings Beat Estimates on Higher Prices
Linde plc (LIN - Free Report) announced first-quarter 2022 adjusted earnings from continuing operations of $2.93 per share, surpassing the Zacks Consensus Estimate of $2.78 and improving from the year-ago profit of $2.49.
Total revenues of $8,211 million beat the Zacks Consensus Estimate of $8,059 million and improved from the year-ago quarter’s $7,243 million.
The strong results were driven by increased prices and volumes from electronics, energy and chemicals end markets.
Linde plc Price, Consensus and EPS Surprise
Linde plc price-consensus-eps-surprise-chart | Linde plc Quote
Segment Highlights
Operating profit of Linde in the Americas segment was up 13.7% year over year to $904 million on higher pricing and volumes, thanks to increased prices and volumes aided by manufacturing, chemicals and energy end market.
Linde’s profit in the EMEA segment increased 11.5% year over year to $503 million, thanks to a spike in pricing.
Profit in the APAC segment increased 13.7% year over year to $399 million on an uptick in prices and volumes, aided by strong electronics, energy and chemicals end markets.
Operating profit of Linde in the Engineering segment increased to $143 million from the prior-year $109 million.
Backlogs
At the end of the March quarter, the company’s total backlog was recorded at roughly $6 billion, comprising a sale-of-gas backlog of $3.5 billion.
Capital Investment & Balance Sheet
Linde reported capital expenditure for the March quarter at $649 million. The company ended the first quarter with cash and cash equivalents of $4.5 billion. Linde’s long-term debt was $12.8 billion, representing debt to capitalization of 27.1%.
Guidance
For the March quarter, Linde projects adjusted earnings per share in the band of $2.90 to $3.00. For 2022, Linde expects adjusted earnings per share in the band of $11.65 to $11.90.
Zacks Rank & Stocks to Consider
Linde currently carries a Zacks Rank #3 (Hold). Meanwhile, a few better-ranked players belonging to the same space include Dow Inc. (DOW - Free Report) , Kronos Worldwide, Inc. (KRO - Free Report) and Univar Solutions Inc. . While Dow and Kronos Worldwide carry a Zacks Rank #2 (Buy), Univar sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Dow is a well-known name in providing various materials science solutions. In first-quarter 2022, Dow beat the Zacks Consensus Estimate for earnings.
In the past seven days, Dow has witnessed upward earnings estimate revisions for 2022 and 2023.
Kronos is a leading producer and marketer of titanium dioxide pigments. Kronos is likely to see earnings growth of 30.6% and 6.3% in 2022 and 2023, respectively.
In the last 60 days, Kronos has witnessed upward earnings estimate revisions for 2022 and 2023, respectively.
Univar Solutions is also a well-known name since it is leading distributor of commodity and specialty chemical products. Univar Solutions is likely to post first-quarter results on May 9.
In 2022 and 2023, Univar Solutions is likely to see earnings growth of 18.5% and 5.1%, respectively.