Company: LIN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021379
Chunk: 54

Company: LINDE PLC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 54
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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-over-year increase was primarily driven by higher pricing and productivity initiatives which more than offset adverse impacts from cost inflation, cost reduction program and other charges and currency translation. The reported effective 

23

tax rate ("ETR") was 23.4% in the first quarter 2025 versus 22.3% in the first quarter 2024. This increase was primarily due to lower tax benefits from share based compensation in 2025. Diluted earnings per share ("EPS") was $3.51, or 5% above EPS of $3.35 in the first quarter of 2024, primarily due to higher net income - Linde plc and lower diluted shares outstanding.

Adjusted

In the first quarter of 2025, adjusted operating profit of $2,438 million, or 30.1% of sales, was 4% higher as compared to 2024, driven by higher pricing, and productivity initiatives, partially offset by cost inflation and currency translation. The adjusted ETR was 23.5% in the first quarter 2025 versus 22.7% in the respective 2024 quarter. This increase was primarily due to lower tax benefits from share based compensation in 2025. On an adjusted basis, EPS was $3.95, 5%