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Linde AG profit misses consensus by 23.6% in Q1

Linde AG said its first-quarter normalized net income amounted to €1.37 per share, compared with the S&P Capital IQ consensus estimate of €1.80 per share.

EPS climbed year over year from €1.34.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €255.8 million, a gain from €249.3 million in the year-earlier period.

The normalized profit margin declined to 5.8% from 6.1% in the year-earlier period.

Total revenue grew 6.6% year over year to €4.38 billion from €4.12 billion, and total operating expenses rose 7.4% year over year to €3.85 billion from €3.59 billion.

Reported net income increased from the prior-year period to €311.0 million, or €1.67 per share, from €306.0 million, or €1.65 per share.