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Linde AG profit misses consensus by 32.7% in Q1

Linde AG said its normalized net income for the first quarter came to €1.26 per share, compared with the S&P Capital IQ consensus estimate of €1.88 per share.

EPS climbed year over year from €1.25.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €235.4 million, an increase from €232.8 million in the prior-year period.

The normalized profit margin declined to 5.5% from 5.8% in the year-earlier period.

Total revenue rose 8.7% year over year to €4.40 billion from €4.04 billion, and total operating expenses rose 10.0% from the prior-year period to €3.89 billion from €3.53 billion.

Reported net income rose on an annual basis to €299.7 million, or €1.61 per share, from €290.3 million, or €1.56 per share.