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Linde plc (symbol: LIN) is a global leader in the industrial gas sector, delivering critical gas products and technologies to a wide array of industries. Founded in Germany and headquartered in the United Kingdom since 2018, Linde operates in over 100 countries, providing atmospheric and process gases, including oxygen, nitrogen, argon, hydrogen, carbon dioxide, and helium. Linde's innovative solutions serve diverse markets such as chemicals, manufacturing, healthcare, and steelmaking.
In 2023, Linde generated approximately $33 billion in revenue, driven by a robust portfolio and strategic initiatives. The company reported a net income of $1,543 million for the fourth quarter alone and saw a 16% increase in diluted earnings per share to $3.16. Linde's operations are marked by efficiency and profitability, achieving an adjusted operating profit margin of 27.4% in the fourth quarter of 2023.
Linde's commitment to sustainable practices is evident in its projects and partnerships. The company continues to invest in clean hydrogen production and carbon capture technologies, essential for the energy transition. Recent expansions include increasing the capacity of its Mims, Florida facility by 50% and signing a long-term agreement with H2 Green Steel for a green steel production plant in Sweden.
Linde has also been recognized for its commitment to business integrity and ethics, receiving the 2024 World's Most Ethical Companies recognition from Ethisphere. This accolade marks Linde's fourth consecutive year on the list, highlighting its dedication to ethical practices and compliance.
Looking ahead, Linde is poised for continued growth and innovation. With a high-quality project backlog of $8.5 billion and a strategic focus on high-quality growth opportunities, the company expects robust earnings growth for years to come. For the full year 2024, Linde projects adjusted diluted earnings per share in the range of $15.25 to $15.65, reflecting an increase of 7% to 10% compared to the prior year.
Linde plc reported its first-quarter 2023 results, highlighting sales of $8.2 billion, flat compared to the previous year but up 3% excluding foreign exchange (FX). The operating profit reached $1.9 billion, with an adjusted operating profit of $2.2 billion, representing a 16% increase year-on-year. Furthermore, earnings per share (EPS) amounted to $3.06, a 33% rise, while adjusted EPS was $3.42, up 17%. The company increased its full-year adjusted EPS guidance to $13.45 - $13.85, indicating a projected growth of 9% to 13% year-on-year. Despite a 5% decrease in operating cash flow, Linde returned $1.47 billion to shareholders via dividends and stock buybacks.
Linde plc (NYSE:LIN) has declared a quarterly dividend of $1.275 per share, payable on June 16, 2023 to shareholders of record by June 2, 2023. In 2022, Linde generated sales of $33 billion, establishing itself as a leader in the industrial gases and engineering sector.
The company's mission is to enhance productivity by offering high-quality solutions and technologies that support sustainability, decarbonization, and customer success across various industries including chemicals, healthcare, and manufacturing. Linde's contributions are pivotal in sectors such as clean hydrogen production and carbon capture, emphasizing its role in the energy transition.
Linde (NYSE:LIN) has entered a long-term agreement to supply green hydrogen to Evonik, a prominent specialty chemicals company, for their methionine production in Singapore. Linde will establish a nine-megawatt alkaline electrolyzer plant on Jurong Island, which will also cater to the local hydrogen market. This project, set to launch in 2024, aligns with Singapore's National Hydrogen Strategy and aims to support the nation's goal of achieving net zero emissions by 2050. The deal underlines Linde's commitment to enhancing sustainable operations, with Evonik anticipating improved efficiency and reduced carbon footprint through this collaboration.
Linde (NYSE:LIN) announced an expansion of its on-site facility in Tangjeong, South Korea, to enhance the supply of high-purity industrial gases to Samsung Display. This initiative aligns with Samsung's multi-billion-dollar investment to shift its production from LCD to OLED technology, driven by increasing global demand. Linde will construct a new SPECTRA plant capable of producing over 2,000 tons per day of high-purity nitrogen, essential for Samsung's manufacturing processes. With an estimated investment of $100 million, the facility is expected to commence operations by late 2024. This expansion not only solidifies Linde's longstanding partnership with Samsung but also boosts the company's capacity to meet the rising demand for industrial gases in South Korea's electronics sector.
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