Linde Q3 Profit Higher, Above Estimates; Ups Annual Outlook Better Than View

(RTTNews) - Industrial gases and engineering company Linde plc (LIN) Thursday reported higher profit in the third quarter, above estimates, helped by growth in revenue. The company also raised its full-year adjusted earnings outlook above the Street view.

Income from continuing operations in the third quarter was $1.273 billion or $2.54 per share, up from 978 million or $1.88 per share in the same quarter a year ago.

Excluding one-time items, earnings were $1.555 billion or $3.10 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $2.69 per share. Analysts' estimates typically exclude special items.

Quarterly sale increased 15% year-on-year to $8.797 billion. The consensus estimate was for $8.27 billion.

Looking forward, Linde expects adjusted earnings per share in the range of $2.80-$2.90 in the fourth quarter, up 1% to 5% versus prior-year period. Analysts expect earnings of $2.41 per share for the quarter.

For the full year, the company has raised its guidance for adjusted earnings per share to $11.93-$12.03, from $11.73-$11.93. The consensus estimate stands at $11.56 per share.