Linde Plc - LIN STOCK NEWS

Linde (NYSE:LIN) has expanded its long-term agreement with Jindal Stainless Limited (JSL), a major stainless steel producer in India. This agreement will see Linde build a second Air Separation Unit (ASU) in Kalinganagar, boosting the facility's capacity by over three times. The new ASU is projected to commence operations in the first half of 2024, providing additional supplies to both JSL and the local merchant market. This expansion enhances Linde's presence in a key industrial region in India.

Linde (NYSE:LIN) has received approval from the Science Based Targets initiative (SBTi) for its 2035 absolute emissions reduction target. The company aims to reduce greenhouse gas emissions by 35% by 2035 compared to 2021 levels, aligned with the Paris Accords. Linde plans to triple its procurement of renewable energy, utilize renewable feedstocks, and implement carbon capture and storage (CCS) projects. Additionally, the company aims for climate neutrality by 2050 and is currently developing CCS projects in the U.S. Gulf Coast.

Linde (NYSE:LIN) has officially joined the United Nations Global Compact (UNGC), committing to uphold its Ten Principles focused on human rights, labor, environment, and anti-corruption. Linde's Vice President of Sustainability, Tamara Brown, emphasized the company's ongoing dedication to sustainability, evident from its presence in the Dow Jones World Sustainability Index for 19 years and its recognition as one of the 2022 World's Most Ethical Companies. With 2021 sales of $31 billion, Linde aims to enhance productivity while addressing global challenges.

Linde (NYSE:LIN) has launched a new air separation unit (ASU) to provide oxygen and nitrogen to Wanhua Chemical Group, the leading global producer of isocyanate (MDI), crucial for making high-performance adhesives and synthetic fibers. This facility expands Wanhua's Yantai Chemical Industrial Park, adding to four existing ASUs operated by Linde, enhancing production flexibility and energy efficiency. Linde's commitment to innovation supports both Wanhua's growth and other industrial demands in the region, emphasizing the company's strategic role in the chemical industry.

Linde (NYSE:LIN) will release its Q3 2022 financial results on October 27, 2022, at 06:00 EDT. A conference call will follow at 09:00 EDT, open to the public in listen-only mode. Investors can access the call via a US toll-free number or live webcast. The earnings release and presentation materials will be made available on the company’s investor relations website, coinciding with the call. Linde reported 2021 sales of $31 billion across diverse markets, emphasizing its commitment to enhancing productivity and sustainability.

Linde (NYSE:LIN) has successfully completed the sale of Gist Limited, its temperature-controlled logistics provider in the UK and Ireland, to Marks & Spencer Group plc as of September 30, 2022. This divestiture is part of Linde's strategy to streamline operations by shedding non-core assets. Linde, which reported $31 billion in sales for 2021, aims to enhance productivity through high-quality industrial gases and engineering solutions across various sectors, including healthcare, manufacturing, and energy.

Linde (NYSE:LIN) has announced plans to build a 35-megawatt PEM electrolyzer in Niagara Falls, New York, which will be the largest of its kind globally. This facility will more than double Linde's U.S. green hydrogen production capacity and is expected to start operations by 2025. Utilizing hydroelectric power, the plant aims to meet increasing demand from sectors such as aerospace and electronics. Linde's investment reflects its commitment to enhancing green hydrogen production and contributing to a sustainable energy economy.

Linde has inaugurated the world's first hydrogen refueling system for passenger trains in Bremervörde, Germany. This system will support 14 hydrogen-powered trains, each capable of traveling 1,000 km emission-free per refueling. With a daily capacity of around 1,600 kg of hydrogen, it is one of the largest systems built. Linde aims to decarbonize transport in Europe and has advanced capabilities for future green hydrogen generation. The company is a leader in hydrogen technology, owning the largest liquid hydrogen capacity and over 200 fueling stations globally.

Linde plc (NYSE: LIN) reported strong second-quarter results with sales of $8.5 billion, reflecting a 12% increase compared to the prior year. Adjusted operating profit rose 8% to $2.0 billion, resulting in an operating profit margin of 23.5%. Earnings per share (EPS) also increased, reaching $3.10, a 15% rise year-over-year. The company generated $2.1 billion in operating cash flow and returned $2.2 billion to shareholders. Linde lifted its adjusted EPS guidance for the year to between $11.73 and $11.93, suggesting robust growth.