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Linde Rises on Stronger-Than-Expected Quarter, Upside Guidance

Linde expects earnings for the second quarter and full year ahead of analyst expectations.
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Shares of Linde  (LIN) - Get Linde plc Report jumped after the industrial-gas producer reported first-quarter results ahead of estimates and raised its full-year earnings guidance. 

The U.K. company reported first-quarter earnings of $2.49 a share while analysts surveyed by FactSet were expecting $2.26 a share. Revenue of $7.24 billion compared with the consensus estimate of $7.04 billion. 

The results reflect a resilient business model and ability to leverage economic recovery, Chief Executive Steve Angel said in a statement. 

For the second quarter, Linde expects adjusted earnings of $2.50 to $2.55 per share, 32% to 34% higher than the year-earlier figure and ahead of analyst estimates of $2.30 a share for the period. 

For the year, the company expects adjusted earnings between $9.60 and $9.80 a share, up 17% to 19% over the prior year and compared with analyst expectations of $9.31 a share.  

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Linde shares at last check were 1.2% higher at $295.22.

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In the first quarter America sales were up 6% from a year earlier, driven by 3% higher pricing and 4% higher demand. 

Asia-Pacific sales rose 7%, driven by 1% higher pricing and 10% volume growth, primarily in the electronics and cyclical end markets. 

Europe-Middle East-Africa sales rose 10% year over year. 

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