We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Linde's (LIN) Q4 Earnings Beat Estimates on Higher Prices
Read MoreHide Full Article
Linde plc (LIN - Free Report) reported fourth-quarter 2023 adjusted earnings of $3.59 per share, surpassing the Zacks Consensus Estimate of $3.50. The bottom line improved from the year-ago quarter figure of $3.16.
Total quarterly revenues of $8.3 billion beat the consensus estimate of $8.1 billion and increased from the year-ago quarter’s $7.9 billion.
Strong quarterly earnings were driven by higher pricing and volumes from the Americas segment.
The operating profit of Linde’s Americas segment was up almost 14% year over year to $1.08 billion and beat the Zacks Consensus Estimate of $1.07 billion. An uptick in pricing and volumes aided the segment.
Linde’s profit in the EMEA segment soared 21% year over year to $615 million and beat the consensus mark of $613 million on the back of increased pricing.
Profit in the APAC segment increased almost 9% year over year to $452 million and topped the Zacks Consensus Estimate of $437 million. Handsome prices and stable volumes in the energy and chemicals markets aided the business unit.
Operating profit in the Engineering segment decreased to $119 million from the prior year’s $157 million but beat the consensus estimate of $93 million.
Backlogs
At the end of the fourth quarter, the company’s high-quality backlog was $8.5 billion, comprising a sale-of-gas backlog of $4.9 billion.
Capital Investment & Balance Sheet
Linde reported capital expenditure of $1.2 billion for the December quarter. The company ended the quarter with cash and cash equivalents of $4.7 billion. Its long-term debt was $13.4 billion.
Guidance
For the March-end quarter, Linde projects adjusted earnings per share between $3.58 and $3.68. For 2024, it estimates adjusted earnings per share of $15.25-$15.65.
Alpha Metallurgical is a well-known supplier of metallurgical products for the steel industry in the United States. For 2024, the stock has witnessed upward earnings estimate revisions over the past 30 days.
Suzano is a well-known name as a producer of eucalyptus pulp and paper products in Brazil and worldwide. For this year, the stock has witnessed upward earnings estimate revisions over the past 30 days.
Recovery in demand across its portfolio has been aiding International Paper. The company has also been focused on controlling its costs. The company recently reported better-than-expected fourth-quarter 2023 earnings.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Linde's (LIN) Q4 Earnings Beat Estimates on Higher Prices
Linde plc (LIN - Free Report) reported fourth-quarter 2023 adjusted earnings of $3.59 per share, surpassing the Zacks Consensus Estimate of $3.50. The bottom line improved from the year-ago quarter figure of $3.16.
Total quarterly revenues of $8.3 billion beat the consensus estimate of $8.1 billion and increased from the year-ago quarter’s $7.9 billion.
Strong quarterly earnings were driven by higher pricing and volumes from the Americas segment.
Linde PLC Price, Consensus and EPS Surprise
Linde PLC price-consensus-eps-surprise-chart | Linde PLC Quote
Segmental Highlights
The operating profit of Linde’s Americas segment was up almost 14% year over year to $1.08 billion and beat the Zacks Consensus Estimate of $1.07 billion. An uptick in pricing and volumes aided the segment.
Linde’s profit in the EMEA segment soared 21% year over year to $615 million and beat the consensus mark of $613 million on the back of increased pricing.
Profit in the APAC segment increased almost 9% year over year to $452 million and topped the Zacks Consensus Estimate of $437 million. Handsome prices and stable volumes in the energy and chemicals markets aided the business unit.
Operating profit in the Engineering segment decreased to $119 million from the prior year’s $157 million but beat the consensus estimate of $93 million.
Backlogs
At the end of the fourth quarter, the company’s high-quality backlog was $8.5 billion, comprising a sale-of-gas backlog of $4.9 billion.
Capital Investment & Balance Sheet
Linde reported capital expenditure of $1.2 billion for the December quarter. The company ended the quarter with cash and cash equivalents of $4.7 billion. Its long-term debt was $13.4 billion.
Guidance
For the March-end quarter, Linde projects adjusted earnings per share between $3.58 and $3.68. For 2024, it estimates adjusted earnings per share of $15.25-$15.65.
Zacks Rank & Key Picks
Currently, Linde carries a Zacks Rank #3 (Hold). Better-ranked players in the basic material space include Alpha Metallurgical Resources, Inc. (AMR - Free Report) , Suzano SA (SUZ - Free Report) and International Paper (IP - Free Report) . All the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Alpha Metallurgical is a well-known supplier of metallurgical products for the steel industry in the United States. For 2024, the stock has witnessed upward earnings estimate revisions over the past 30 days.
Suzano is a well-known name as a producer of eucalyptus pulp and paper products in Brazil and worldwide. For this year, the stock has witnessed upward earnings estimate revisions over the past 30 days.
Recovery in demand across its portfolio has been aiding International Paper. The company has also been focused on controlling its costs. The company recently reported better-than-expected fourth-quarter 2023 earnings.