Linde, Leading Industrial Gases Company, Expects Earnings Growth Slowdown in 2024 Amid Economic Uncertainties

Linde, recognized as the global leader in industrial gases, has forecasted a deceleration in its earnings growth for the year 2024, citing prevailing economic uncertainties.

As a crucial supplier of gases to diverse sectors, including chemicals, manufacturing, and steel-making, Linde is often considered a key indicator of industrial production trends. Sanjiv Lamba, the CEO of Linde, acknowledged the challenging geopolitical and macro-environments but affirmed the company’s readiness to secure numerous high-quality projects and consistently deliver value to shareholders.

Lamba highlighted the positive impact of Linde’s substantial $8.5 billion order backlog on future earnings growth. The company plans to allocate between $4.5 billion and $5.0 billion in expenditures for the current year.

Despite anticipating a slowdown, Linde aims for an 8–11% growth in adjusted earnings per share in 2024, a reduction from the 16% growth achieved in the previous year. Analysts at the London Stock Exchange Group (LSEG) predicted a 9.5% annual increase in earnings per share for 2024.

In its latest financial report, Linde revealed a notable 14% rise in fourth-quarter adjusted earnings to $3.59 per share, surpassing the average estimate of $3.49 per share provided by analysts. The company’s shares experienced a positive upswing of 1.8% in U.S. premarket trading following the announcement.



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