Linde raises 2021 earnings guidance for third time -Breaking
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© Reuters. FILEPHOTO: Two men park Linde tankers at Netaji Subhas Chandra Bose International Airport in Kolkata (India), May 2, 2021. They arrived from India to aid with coronavirus (COVID-19). REUTERS/Rupak De Chowdhuri/File Photo(Reuters] -Linde was the largest international industrial gas firm on Thursday. The company cited growth across all geographical segments and markets as the reason for its third increase in 2021 earnings guidance.
American-German firm, that supplies gases such as hydrogen, oxygen and nitrogen to hospitals and factories, expects to see adjusted earnings per share growth of between 28% and 29%. It was previously expecting adjusted EPS growth of 28% to 29%.
Steve Angel, Chief Executive of the company stated in a statement that “We maintained our industry-leading performance and substantially increased our project backlog.”
It stated that its sustainability goals now include a 35% decrease in absolute emission by 2035, and becoming climate-neutral by 2050.
Linde (NYSE.) signed agreements this year with Infineon Technologies (OTC.) Technologies, Snam and Daimler(OTC.)’s truck company to develop clean hydrogen projects. This is in response to countries’ efforts to reduce emissions and increase renewables across all polluting industries to help them meet their net-zero emission goal for 2050.
According to Refinitiv analysts, the company’s quarterly adjusted earnings per shares increased 27% to $2.73 from $2.66.
Refinitiv’s data shows that Linde beat analyst quarterly estimates in the past two year.
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