Oct 31 (Reuters) - Linde ( LIN ), the world's largest
industrial gases company, said on Thursday it was confident
about its clean energy projects after trimming its full-year
forecast due to a slowdown in its end markets including mining,
metals and healthcare.
"I feel pretty confident that the $8-10 billion number for
hydrogen investments over the next few years looks pretty much
intact," CEO Sanjiv Lamba said on a conference call.
In August, Linde ( LIN ) said it would invest more than $2 billion
to build a clean hydrogen facility to supply Dow's
Path2Zero production complex in Canada, the latest of such
projects for the gases group as countries look to cut back on
carbon dioxide emissions.
"I think it's important to note the size and scope we are
undertaking... the clean energy transition will draw upon
several different Linde ( LIN ) capabilities, expertise, and product
offerings since integrated gas management solutions are in
greater demand," Lamba said.
The U.S.-German company, which supplies gases such as
oxygen, nitrogen and hydrogen to factories and hospitals,
lowered the upper end of its 2024 earnings guidance, saying its
end markets had slowed down amid a tougher economy, especially
in the Americas region.
It now expects adjusted earnings per share (EPS) to increase
by 8-9% this year, after previously guiding for 8-10% growth.
Linde ( LIN ) said it expected its adjusted EPS to grow by 8% to 10%
in the fourth quarter, with mid-point of the range assuming an
economic contraction.
The group reported a 9% rise in its adjusted EPS to $3.94 in
the July-September quarter. That came ahead of analysts' mean
estimate of $3.89 per share in an LSEG poll.
Total sales were up 2% at $8.36 billion in the quarter,
slightly ahead of the LSEG poll estimate of $8.35 billion.
(Reporting by Bartosz Dabrowski in Gdansk; editing by Milla
Nissi and Emelia Sithole-Matarise)