🔹 Revenue: $8.50B (Est. $8.35B) 🟢; UP +3% YoY
🔹 Adj. EPS: $4.09 (Est. $4.03) 🟢; UP +6% YoY
Guidance
🔹 Q3 Adj. EPS: $4.10–$4.20 (Est. $4.20) 🟡; +4% to +7% YoY
🔹 FY25 Adj. EPS: $16.30–$16.50 (Est. $16.42) 🟡; +5% to +6% YoY
🔹 FY Capex: $5.0B–$5.5B
Q2 Segment Performance
Americas:
🔹 Sales: $3.81B; UP +4% YoY
🔹 Operating Margin: 31.7%; Flat YoY
APAC:
🔹 Sales: $1.66B; Flat YoY
🔹 Operating Margin: 29.6%; UP +100bps YoY
EMEA:
🔹 Sales: $2.16B; UP +3% YoY
🔹 Operating Margin: 36.1%; UP +240bps YoY
Linde Engineering:
🔹 Sales: $551M; UP +1% YoY
🔹 Operating Profit: $90M (16.3% margin)
🔹 Equipment Backlog: $3.2B
🔹 Order Intake: $311M
Other Q2 Metrics:
🔹 Operating Profit: $2.36B; Adj. Operating Profit: $2.56B; UP +6% YoY
🔹 Adj. Operating Margin: 30.1%; UP +80bps YoY
🔹 Operating Cash Flow: $2.21B; UP +15% YoY
🔹 Free Cash Flow: $954M
🔹 Capital Returned to Shareholders: $1.81B (dividends + buybacks)
CEO Commentary
🔸 “EPS grew 6% and operating margins expanded 80bps versus prior year.” – CEO Sanjiv Lamba
🔸 “We added several long-term contracts, including to supply a world-scale low-carbon ammonia facility in the U.S. Gulf Coast.”
🔸 “Our $7.1B sale-of-gas backlog will drive attractive growth for years to come.”
🔸 “Despite macro uncertainty, we are confident in long-term shareholder value creation.”
