Linde shares bounce on earnings, as margin expansion overshadows slight sales miss

Linde's superb quarterly results demonstrated once again why this is our favorite way to invest in the global transition to clean energy. Sales totaled $8.16 billion fell 7.3% year over year in the three months ended June 30, missing analyst expectations of $8.6 billion, according to LSEG, formerly known as Refinitiv. Adjusted earnings per share rose 17.1% and topped expectations, coming in at $3.63 compared with estimates of $3.57, according to LSEG. Adjusted operating profit jumped 14.

" One market that was down in the quarter was electronics, which declined in the mid-single-digit percentages, Lamba said. However, he said he sees the weaker parts of its electronics business beginning to recover in the first half of next year, as inventory levels stabilize and artificial intelligence boosts demand for the products Linde's customers make. As noted earlier, third-quarter adjusted operating margins were very strong — coming in at 28.

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