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Linde AG profit misses consensus by 34.9% in Q2

Linde AG said its second-quarter normalized net income was €1.16 per share, compared with the S&P Capital IQ consensus estimate of €1.79 per share.

EPS declined 16.3% year over year from €1.39.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €217.3 million, a decline of 16.3% from €259.5 million in the prior-year period.

The normalized profit margin dropped to 5.1% from 6.3% in the year-earlier period.

Total revenue grew on an annual basis to €4.27 billion from €4.15 billion, and total operating expenses climbed 5.6% from the prior-year period to €3.80 billion from €3.60 billion.

Reported net income declined 12.9% year over year to €278.0 million, or €1.49 per share, from €319.0 million, or €1.71 per share.