Linde 2Q Profit Falls on Lower Revenue
July 30 2020 - 6:52AM
Dow Jones News
By Adriano Marchese
Linde PLC on Thursday reported a 12% drop in second-quarter
profit, as revenue fell in the period.
The industrial gases and engineering company earned a quarterly
profit of $458 million, or 87 cents a share, compared with $522
million, or 96 cents a share, for the same period last year.
Excluding items, Linde reported an adjusted profit of $1.90 a
share for the quarter, beating analysts forecasts of $1.65.
Sales fell to $6.38 billion from $7.18 billion.
The company said that in the third quarter, it expects adjusted
diluted EPS to be within the range of $1.90 and $1.95.
Meanwhile, for the full year, the company expects this metric to
be in the range of $7.60 and $7.80.
"Looking ahead, the full effects of Covid-19 and the rate of
recovery are uncertain. However, the growth opportunities for Linde
remain strong from our high-quality project backlog, defensive end
markets and leading infrastructure and technology in support of the
secular trend in clean energy," Chief Executive Officer Steve Angel
said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
July 30, 2020 06:37 ET (10:37 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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