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Linde AG profit misses consensus by 36.6% in Q3

Linde AG said its third-quarter normalized net income amounted to €1.17 per share, compared with the S&P Capital IQ consensus estimate of €1.85 per share.

EPS decreased 12.1% year over year from €1.34.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €217.8 million, a decline of 12.6% from €249.1 million in the year-earlier period.

The normalized profit margin dropped to 5.2% from 5.8% in the year-earlier period.

Total revenue declined year over year to €4.21 billion from €4.27 billion, and total operating expenses came to €3.76 billion, compared with €3.75 billion in the prior-year period.

Reported net income decreased 11.4% year over year to €271.0 million, or €1.46 per share, from €306.0 million, or €1.64 per share.