Linde lifts Q1 net income 3% despite flat sales and global instability
Linde reported net income of $1.67bn in Q1, up 3% year-on-year, despite what it termed flat sales of $8.1bn and macroeconomic challenges.
The industrial gas major reported adjusted earnings per share (EPS) of $3.95, up 5% year-on-year – or 8% when excluding foreign exchange effects. Adjusted operating profit rose 4% to $2.4bn, with operating margin climbing 120 basis points to 30.1%.
Operating cash flow increased 11% year-on-year to $2.2bn, and free cash flow was $891m after $1.27bn in capital expenditures.
CEO Sanjiv Lamba said, “While first quarter macroeconomic headwinds largely played out as anticipated, Linde employees delivered another resilient performance by expanding operating margins … growing EPS, excluding FX, by 8%, and maintaining industry-leading return on capital of 25.7%.
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