Company: LIN
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001628280-25-037164
Chunk: 86

Company: LINDE PLC
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 2
Chunk 86
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3 %As percent of sales39.2 %38.6 %38.9 %38.4 %Adjusted EBITDA$3,351 $3,206 5 %$6,564 $6,322 4 %As percent of sales39.4 %38.8 %39.5 %38.6 %

(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 second quarter of 2025, Linde's sales were $8,495 million, 3% above the 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 second quarter. Engineering sales and currency translation were flat in the quarter. 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 second quarter of 2025 was $2,354 million, or 27.7% of sales, 8% above the prior year. The reported year-over-year increase was primarily driven by higher pricing and productivity initiatives, which more than offset adverse impacts from cost inflation and lower volumes. The reported effective tax rate ("ETR") was 24.4% in the second 

25

quarter 2025 versus 23.5% in the second quarter 2024. Diluted earnings per share ("EPS") was $3.73, or 8% above EPS of $3.44 in the second quarter of 2024, primarily due to higher net income - Linde plc and lower diluted shares outstanding.

Adjusted

In the second quarter of 2025, adjusted operating profit of $2,556 million, or 30.1% of sales, was 6% higher as compared to 2024, driven by higher pricing and productivity initiatives partially offset by cost inflation and lower volumes. The adjusted ETR was 24.3% in the second quarter 2025 versus 23.5% in the respective 2024 quarter. On an adjusted basis, EPS was $4