Benzinga | Jul 30, 2021 01:07PM EDT

Linde Shares Gain On Strong Q2, Raised FY21 EPS Outlook

* Linde PLC (NYSE:LIN) reported second-quarter sales growth of 19% year-over-year to $7.58 billion, beating the consensus of $7.35 billion.

* Sales by segments: Americas $3.02 billion (+25% Y/Y), APAC $1.54 billion (+19% Y/Y), EMEA $1.88 billion (+29% Y/Y), Engineering $646 million (-20% Y/Y), and Others $499 million (+23% Y/Y)

* Adjusted EPS improved to $2.70 from $1.90 in 2Q20, beating the consensus of $2.53.

* Adjusted operating profit increased by 39% Y/Y to $1.84 billion, and margin expanded by 350 bps to 24.2%.

* Linde generated cash from operating activities of $1.83 billion, compared to $1.76 billion a year ago.

* Adjusted EBITDA margin improved to 34.1% from 31.6% a year ago.

* The company's backlog at the end of the quarter was $7.5 billion.

* Q3 Outlook: Linde expects adjusted EPS to grow 21%-26% Y/Y to $2.60 - $2.70, versus the consensus of $2.51.

* FY21 Outlook: The company expects adjusted EPS to grow 23%-25% Y/Y to $10.10 - $10.30, versus the consensus of $10.01.

* It sees full-year capital expenditures of $3.0 billion - $3.4 billion.

* Price action: LIN is trading higher by 2.81% at $307.87 on the last check Friday.