Company: LIN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047710
Chunk: 88

Company: LINDE PLC
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 2
Chunk 88
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 by cost inflation. The adjusted ETR was 22.7% in the third quarter 2025 versus 23.6% in the respective 2024 quarter. On an adjusted basis, EPS was $4.21, 7% above the 2024 adjusted EPS of $3.94, driven by higher adjusted net income - Linde plc and lower diluted shares outstanding.

Outlook

Linde provides quarterly updates on operating results, material trends that may affect financial performance, and financial guidance via quarterly earnings releases and investor teleconferences. These updates are available on the company’s website, www.linde.com, but are not incorporated herein.

Results of operations

The changes in consolidated sales compared to the prior year are attributable to the following:

 Quarter Ended September 30, 2025 vs. 2024Nine months ended September 30, 2025 vs. 2024 % Change% ChangeFactors Contributing to Changes - SalesVolume— %(1)%Price/Mix2 %2 %Cost pass-through— %— %Currency1 %— %Acquisitions/divestitures1 %1 %Engineering(1)%— %3 %2 %

Sales

Sales increased by 3% for the third quarter of 2025 and 2% for the nine months ended September 30, 2025, versus the respective 2024 periods. Higher price attainment increased sales by 2% in the quarter and nine months ended September 30, 2025. Acquisitions increased sales by 1% in the quarter and nine months ended September 30, 2025. Currency translation increased sales by 1% in the quarter, primarily driven by the strengthening of the Euro and British pound against the U.S. dollar. In the nine months ended September 30, 2025, currency translation impact on sales was flat. Cost pass-through was flat in both the quarter and nine months ended September 30, 2025. Volumes were flat in the quarter and decreased sales by 1% for the nine months ended September 30, 2025, as base volume declines were partially offset by new project start-ups. Engineering sales decreased by 1% in the quarter and was flat for the nine months ended September 30, 2025.

Cost of sales, exclusive of depreciation and amortization

Cost of sales, exclusive of depreciation and amortization, increased $23 million, or 1%, for the third