Company: LIN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021379
Chunk: 72

Company: LINDE PLC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 2
Chunk 72
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it), excluding service cost$(56)$(50)12 %Effective tax rate23.4 %22.3 %Income from equity investments$38 $48 (21)%Noncontrolling interests$(34)$(38)(11)%Net Income – Linde plc$1,673 $1,627 3 %Diluted earnings per share$3.51 $3.35 5 %Diluted shares outstanding476,262 485,592 (2)%Number of employees65,069 66,195 (2)%Adjusted Amounts (a)Operating profit$2,438 $2,341 4 %Operating margin30.1 %28.9 %Effective tax rate23.5 %22.7 %Net Income – Linde plc$1,880 $1,821 3 %Diluted earnings per share$3.95 $3.75 5 %Other Financial Data (a)EBITDA$3,132 $3,092 1 %As percent of sales38.6 %38.2 %Adjusted EBITDA$3,213 $3,116 3 %As percent of sales39.6 %38.5 %

(a)Adjusted Amounts and Other Financial Data are non-GAAP performance measures. A reconciliation of reported amounts to adjusted amounts can be found in the "Non-GAAP Measures and Reconciliations" section of this MD&A. 

Reported 

In the first quarter of 2025, Linde's sales were $8,112 million, flat versus prior year. Sales grew 2% from higher price attainment. Cost pass-through, representing the contractual billing of energy cost variances primarily to onsite customers, increased sales by 1% in the quarter, with minimal impact on operating profit. Acquisitions increased sales by 1% in the first quarter. Engineering sales were flat in the quarter. Currency translation decreased sales by 3% in the quarter driven primarily by the weakening of the Brazilian real, Mexican peso and Euro against the U.S. dollar. Volumes decreased sales by 1% in the quarter versus the 2024 respective period, as base volume declines were partially offset by new project start-ups.

Reported operating profit for the first quarter of 2025 of $2,184 million, or 26.9% of sales, was 4% above prior year. The reported year