NASDAQ$LIN
Linde PLC · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported strong results driven by relentless culture to optimize the base business while increasing network density and deploying capital to high-quality growth initiatives.
Linde reported third-quarter 2023 net income of $1,565 million and diluted earnings per share of $3.19, up 23% and 26% respectively. Sales for the third quarter were $8,155 million, 7% below prior year but underlying sales increased 3%.
- Sales $8.2 billion, down 7% YoY, underlying sales up 3%
- Operating profit $2.1 billion; adjusted operating profit $2.3 billion, up 15%
- Operating profit margin 25.2%; adjusted operating profit margin 28.3%, up 550 basis points
- EPS $3.19 up 26%; adjusted EPS $3.63, up 17% YoY
Headline financials
Revenue & EPS history
Linde · Revenue · Quarterly
$8.16B
Revenue by segment
Linde · $7.37B total across 3 segments · Q3 2023
- Americas$3.63B—49.2%
- EMEA$2.11B—28.6%
- APAC$1.64B—22.2%
Forward guidance
For the fourth quarter of 2023, Linde expects adjusted diluted earnings per share in the range of $3.38 to $3.48, up 7% to 10% versus prior-year quarter. For the full year 2023, the company expects adjusted diluted earnings per share to be in the range of $14.00 to $14.10, up 14% to 15% versus prior year and assumes no currency impact.
Tailwinds
- Adjusted diluted earnings per share in the range of $3.38 to $3.48 for Q4 2023
- 7% to 10% increase in adjusted diluted earnings per share versus prior-year quarter for Q4 2023
- Currency tailwind of 1% year-over-year is expected for Q4 2023
- Adjusted diluted earnings per share to be in the range of $14.00 to $14.10 for full year 2023
- 14% to 15% increase in adjusted diluted earnings per share versus prior year for full year 2023
Headwinds
- Currency headwind of 2% sequentially is expected for Q4 2023
- Sales were down 7% year-over-year
- Operating cash flow decreased 4% versus prior year
- Americas sales were 2% lower versus prior year
- APAC sales were 1% lower versus prior year
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.3%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+3.0%
Avg return
30 days after
55%
36 / 65 earnings
Positive
+6.4%
Q3 2020
Best reaction
-4.3%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.1% | +0.1% | -0.7% | |
| Q4 2025 | -2.9% | -2.7% | +2.4% | |
| Q3 2025 | -4.2% | -2.7% | -4.6% | |
| Q2 2025 | -0.2% | +2.4% | +3.9% | |
| Q1 2025 | -1.1% | -1.4% | +3.2% | |
| Q4 2024 | +1.5% | +1.6% | +3.3% | |
| Q3 2024 | -3.4% | -3.9% | -2.6% | |
| Q2 2024 | -2.2% | -2.5% | +5.5% | |
| Q1 2024 | -4.3% | -2.9% | -1.6% | |
| Q4 2023 | +4.0% | +4.7% | +16.1% | |
| Q3 2023 | +1.7% | +4.9% | +13.7% | |
| Q2 2023 | +0.1% | +0.1% | -1.7% | |
| Q1 2023 | +1.2% | +1.4% | -2.4% | |
| Q4 2022 | +3.5% | +2.8% | +7.1% | |
| Q3 2022 | +2.4% | +1.1% | +16.8% | |
| Q2 2022 | +4.0% | +2.5% | -1.4% | |
| Q1 2022 | +1.6% | +2.3% | +7.4% | |
| Q4 2021 | -3.1% | -0.7% | -7.7% | |
| Q3 2021 | +0.1% | +2.7% | +0.5% | |
| Q2 2021 | +0.3% | +2.1% | +5.0% | |
| Q1 2021 | +2.5% | +2.4% | +2.8% | |
| Q4 2020 | +3.3% | +1.4% | -0.6% | |
| Q3 2020 | +6.4% | +11.4% | +6.5% | |
| Q2 2020 | +0.2% | -0.4% | +3.6% | |
| Q1 2020 | +5.3% | +2.3% | +23.7% | |
| Q4 2019 | +2.5% | +2.9% | -18.7% | |
| Q3 2019 | +2.7% | +3.7% | +3.8% | |
| Q2 2019 | +0.6% | +2.3% | -0.1% | |
| Q1 2019 | +4.2% | +4.3% | +15.4% | |
| Q4 2018 | -1.6% | -3.7% | +2.0% | |
| Q4 2017 | -1.6% | -3.7% | +2.0% | |
| Q4 2016 | -1.6% | -3.7% | +2.0% | |
| Q2 2018 | -1.6% | -3.7% | +2.0% | |
| Q3 2018 | -3.7% | -7.2% | -7.6% | |
| Q1 2018 | -1.5% | +1.7% | +5.7% | |
| Q1 2017 | +0.0% | -2.7% | +3.1% | |
| Q2 2017 | -1.4% | -0.4% | +4.7% | |
| Q3 2017 | -1.4% | -0.4% | +4.7% | |
| Q3 2016 | +2.0% | +1.3% | -1.2% | |
| Q2 2016 | +2.5% | +0.8% | +5.3% | |
| Q1 2016 | +0.2% | — | — | |
| Q4 2015 | -1.5% | — | — | |
| Q3 2015 | +0.9% | — | — | |
| Q2 2015 | -0.0% | — | — | |
| Q1 2015 | -0.4% | — | — | |
| Q4 2014 | -1.1% | — | — | |
| Q3 2014 | +0.7% | — | — | |
| Q2 2014 | -0.8% | — | — | |
| Q1 2014 | -0.7% | — | — | |
| Q4 2013 | -0.4% | — | — | |
| Q3 2013 | -0.7% | — | — | |
| Q2 2013 | +1.4% | — | — | |
| Q1 2013 | -0.4% | — | — | |
| Q4 2012 | +4.3% | — | — | |
| Q3 2012 | +0.1% | — | — | |
| Q2 2012 | -0.4% | — | — | |
| Q1 2012 | +0.3% | — | — | |
| Q4 2011 | +0.9% | — | — | |
| Q3 2011 | -3.8% | — | — | |
| Q2 2011 | +1.0% | — | — | |
| Q1 2011 | +1.0% | — | — | |
| Q4 2010 | +0.4% | — | — | |
| Q3 2010 | -0.1% | — | — | |
| Q2 2010 | -0.8% | — | — | |
| Q1 2010 | +1.3% | — | — |
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