Earnings Beat: Linde plc (NYSE:LIN) reported third-quarter 2019 adjusted earnings from continuing operations of $1.94 per share, beating the Zacks Consensus Estimate of $1.78.
Estimate Picture: Investors should note that the Zacks Consensus Estimate for the quarter has not seen any revisions in the last seven days.
Revenues Miss: Revenues of $7,000 million marginally missed the Zacks Consensus Estimate of $7,140 million.
Zacks Rank & Surprise History: Currently, Linde carries a Zacks Rank #2 (Buy), which is subject to change following the earnings announcement.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Coming to earnings surprise history, the company has an excellent record: it has beat estimates in the past two quarters, the average positive earnings surprise being 7.2%.
Key Stats: Pro forma sales from Americas in the September quarter of 2019 were reported at $2,771 million, up from $2,627 million in the year-ago comparable period. Moreover, the segment contributed $671 million of proforma operating profit, suggesting an improvement from $622 million in third-quarter 2018.
From APAC unit, the company generated sales of $1,461 million, down from the year-ago quarter’s $1,539 million. However, the segment contributed $308 million operating profit in third-quarter 2019, up from $256 million in the prior-year period.
Linde decreased its sales from EMEA unit to $1,634 million from $1,695 million in the September quarter of 2018. The company, however, generated operating profit of $335 million from the segment, higher than $308 million in the prior-year quarter.
Check back later for our full write up on this Linde earnings report later!
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