On July 31, Linde PLC fell 3.66% in pre-market trading, trading at approximately $490.00/share, with turnover of $434,600.
The decline came after the company released its Q2 earnings report before market open. Adjusted EPS came in at $4.50, up 10.02% year-over-year, slightly beating the consensus estimate of $4.48-$4.49. Revenue reached $9.29 billion, up 9.3% year-over-year, comfortably exceeding the $8.99-$9.02 billion expected by analysts. Despite the double beat on quarterly results, forward guidance disappointed: the company updated its full-year adjusted EPS outlook to $17.70-$17.90, narrowing from the prior $17.60-$17.90 range, but the upper bound remains below the FactSet consensus of $17.91. Q3 EPS guidance of $4.45-$4.55 implies a midpoint of $4.50, also slightly below the Street estimate of $4.54.
Separately, Linde announced a $1 billion investment to support expansion of a semiconductor gas production complex in Phoenix, Arizona, under a long-term supply agreement.
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