The following is a summary of the Linde Plc (LIN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Linde Plc reported a Q1 EPS of $3.75, up by 10% from the previous year.

• Despite a 1% decline in volumes, operating margins reached a record 28.9%.

• Sales came in at $8.1 billion, a decrease of 1% year-over-year, yet underlying sales show a growth of 1%.

• The full-year 2024 capital expenditure estimate has been revised down to $4 billion to $4.5 billion due to continued focus on reducing overall capital expenditures.

Business Progress:

• The company's performance is bolstered by consumer-related markets like healthcare, food, beverage, and electronics showing stability and growth despite sluggish economic conditions.

• Linde Plc is actively involved in numerous decarbonization projects including the first large-scale green steel production plant in Northern Sweden.

• The company expects growth in resilient markets such as food and beverage, healthcare, and has a healthy backlog of approximately $5 billion.

• Integrated AI-powered strategies in EMEA and productivity initiatives in the Americas and EMEA show strong measures to confront weak industrial activities.

• Linde Plc anticipates an addition of $1.5 to $2 billion in new projects by year's end as momentum for clean energy projects moderates, mainly due to the complexities in the European incentives and penalties regimes.

More details: Linde IR

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