Linde Plc Stock Price, News & Analysis

Linde and SLB announced a strategic collaboration on carbon capture, utilization, and sequestration (CCUS) projects on October 31, 2022, aimed at accelerating decarbonization across industrial and energy sectors.

This partnership combines extensive expertise in CO₂ capture and sequestration, innovative technologies, and project execution capabilities, with a focus on hydrogen and ammonia production and natural gas processing. CCUS is crucial for achieving net-zero emissions by 2050, requiring over 6Gt of CO₂ to be abated annually, according to the IEA.

SLB and Linde have formed a strategic collaboration focused on carbon capture, utilization, and sequestration (CCUS) to drive decarbonization in various sectors including hydrogen and ammonia production, and natural gas processing. This partnership aims to leverage their extensive experience and innovative technologies to significantly reduce CO₂ emissions, aligning with the International Energy Agency's goal of abating over 6Gt of CO₂ annually by 2050. Both companies emphasize their commitment to creating low-carbon energy solutions for a sustainable future.

Linde plc reported strong financial results for Q3 2022, achieving sales of $8.8 billion, a 15% increase year-over-year. The operating profit reached $1.6 billion, with adjusted operating profit at $2.0 billion, up 11%. EPS rose to $2.54, with adjusted EPS at $3.10, marking a 14% increase. Operating cash flow stood at $2.6 billion, covering capital expenditures of $762 million and yielding free cash flow of $1.9 billion. Full-year adjusted EPS guidance is increased to $11.93 - $12.03, indicating 12-13% growth year-over-year.

Linde plc has announced a proposal for shareholders to vote on an intercompany reorganization that would lead to the delisting of its shares from the Frankfurt Stock Exchange. The plan involves creating a new holding company through an Irish scheme and merging it domestically. Shareholders will receive one share of the new company, also named Linde, for each share they own. The new holding company is expected to be listed on the New York Stock Exchange under the existing ticker LIN.

Linde plc (NYSE:LIN) declared a quarterly dividend of $1.17 per share, payable on December 16, 2022, to shareholders of record on December 2, 2022. In 2021, the company reported sales of $31 billion (€26 billion), serving various markets, from healthcare to manufacturing. Linde focuses on high-quality solutions to enhance productivity and support sustainability. With its industrial gases impacting diverse sectors, the company is positioned as a leader in the industrial gases and engineering market.

Linde (NYSE:LIN) has expanded its long-term agreement with Jindal Stainless Limited (JSL), a major stainless steel producer in India. This agreement will see Linde build a second Air Separation Unit (ASU) in Kalinganagar, boosting the facility's capacity by over three times. The new ASU is projected to commence operations in the first half of 2024, providing additional supplies to both JSL and the local merchant market. This expansion enhances Linde's presence in a key industrial region in India.

Linde (NYSE:LIN) has received approval from the Science Based Targets initiative (SBTi) for its 2035 absolute emissions reduction target. The company aims to reduce greenhouse gas emissions by 35% by 2035 compared to 2021 levels, aligned with the Paris Accords. Linde plans to triple its procurement of renewable energy, utilize renewable feedstocks, and implement carbon capture and storage (CCS) projects. Additionally, the company aims for climate neutrality by 2050 and is currently developing CCS projects in the U.S. Gulf Coast.

Linde (NYSE:LIN) has officially joined the United Nations Global Compact (UNGC), committing to uphold its Ten Principles focused on human rights, labor, environment, and anti-corruption. Linde's Vice President of Sustainability, Tamara Brown, emphasized the company's ongoing dedication to sustainability, evident from its presence in the Dow Jones World Sustainability Index for 19 years and its recognition as one of the 2022 World's Most Ethical Companies. With 2021 sales of $31 billion, Linde aims to enhance productivity while addressing global challenges.