Linde forecasts earnings deceleration in ’24
Linde, the world’s leading industrial gases company, predicted a deceleration in its earnings growth for 2024 due to economic uncertainties.
As a supplier of gases to diverse industries like chemicals, manufacturing, and steel-making, many view Linde as an indicator of industrial production.
CEO of Linde, Sanjiv Lamba, stated that despite the uncertain geopolitical and macro-environments, they are well-prepared to secure a significant number of high-quality projects and continue to generate value for shareholders.
Lamba added that Linde’s $8.5 billion order backlog will fuel earnings growth in the coming years. The company plans to spend between $4.5 billion and $5.0 billion this year.
The U.S.-German gas supplier anticipates an 8–11 per cent growth in its adjusted earnings per share in 2024, a decrease from last year’s 16% growth.
LSEG analysts predicted a 9.5 per cent annual increase in 2024 earnings per share.
Linde reported a 14 per cent increase in fourth-quarter adjusted earnings to $3.59 per share, surpassing the analysts’ average estimate of $3.49 per share.
In U.S. premarket trading, Linde’s shares rose by 1.8 per cent.
