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Alpha Metallurgical Resources, Inc. (AMR) - free report >>
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Linde's (LIN) Q4 Earnings Top on Solid Americas Business Unit
Linde plc (LIN - Free Report) recently 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’s profit of $3.16.
Also, total quarterly revenues of $8.3 billion beat the Zacks Consensus Estimate of $8.1 billion and improved from the year-ago quarter’s $7.9 billion.
Strong quarterly earnings were primarily 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
Americas Segment
The Americas business unit represents LIN’s operational activities associated with industrial gases in 20 countries, comprising the United States, Canada, Mexico and Brazil. In the December quarter of 2023, the business segment was responsible for 47% of total operating profit.
Linde’s fourth-quarter operating profit in the Americas segment was up almost 14% year over year to $1.08 billion and beat the Zacks Consensus Estimate of $1.07 billion.
Revenues from the segment came at $3.6 billion for the reported quarter, improving from $3.4 billion a year ago but marginally missing the Zacks Consensus Estimate.
Overall, an uptick in pricing and volumes aided the segment. To view our detailed earnings blog: Linde's (LIN - Free Report) Q4 Earnings Beat Estimates on Higher Prices.
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 Cameco Corporation (CCJ - 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.
Cameco is also a leading name in the basic material space and is among the largest providers of uranium fuel across the world. In 2024, the company is likely to see earnings growth of 238.2%.