Q2 2024 Linde PLC Earnings Call Transcript
Key Points
- Linde PLC (LIN) reported a record EPS of $3.85, operating margins of 29.3%, and return on capital of 25.7%, showcasing strong financial performance.
- The company experienced a 3% sequential volume growth, indicating some positive momentum despite a flat year-on-year volume trend.
- Food and beverage end markets grew by 8% over the prior year, driven by increased demand for innovative frozen foods, food packaging, and meal delivery services.
- Linde PLC (LIN) successfully started up phase one of its supply system in Phoenix, Arizona for TSMC, contributing to the 7% growth in electronic sales.
- The company maintained a disciplined approach to pricing and proactive actions, ensuring earnings growth even in a challenging economic environment.
- Healthcare end markets were down 1% from the prior year and flat sequentially, primarily due to rationalizing Homecare product and service offerings.
- Metals and mining volumes decreased year-over-year, mainly due to lower North American steel volumes serving the automotive and construction markets.
- Foreign currency and cost pass-through presented headwinds, with a minus 3% year-over-year and minus 2% sequential impact on sales.
- Operating cash flow was 10% below last year, driven by project prepayments and seasonal effects on interest and tax payments.
- The company remains cautious about the economic outlook, not assuming any meaningful recovery in its guidance, reflecting uncertainty in the industrial macro environment.
Please standby for streaming text.
Good day, and thank you for standing by, and welcome to the Lindis Second Quarter 2024 earnings teleconference and webcast. At this time, all participants are in a listen only mode. Please be advised that today's conference is being recorded and after the speakers' presentation, there will be a question and answer session. I'd now like to hand the conference over to Mr. Juan Pelaez, Head of Investor Relations. Please go ahead, sir.
Thank you. Good morning, everyone, and thanks for attending our 2020 for Second Quarter Earnings Call and Webcast. Juan Pelaez, Head of Investor Relations, and I'm joined this morning by Sanjeev Lambert, Chief Executive Officer, and Matt White, Chief Financial Officer. Today's presentation materials are available on our website that Lynda.com in the Investors section.
Please read the forward-looking statement disclosure on page 2 of the slides and note that it applies to all statements made during this
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