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Linde PLC (LIN) Stock Stable After Surge in Price Coinciding with Q1 2021 Financial Reports

Linde PLC (LIN) stock prices were up by a marginal 0.70% as of the market closing on May 20th, 2021, bringing the price per share up to USD$298.13 at the end of the trading day.

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Americas Segment Performance

Sales from the Americas segment of the company’s business were up by 6% from the year prior, reporting in at USD$2.48 billion for the first quarter of the fiscal year 2021. As increased demand across all of their end markets drove prices up by 3% and volumes by 4%, underlying sales were up by 7%. As higher demand was seen in healthcare electronics and cyclical end markets, price increased by 1% and volumes were up by 3%. Operating profit for the Americas segment consisted of USD$795 million which made up 28% of total sales, a 330 basis point increase over the reports from the year prior.

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APAC Improvements

The Asia Pacific (APAC) segment reported sales in the amount of USD$1.436 billion, an impressive 7% increase from the numbers reported in the prior year. A 10% growth in volume and a 1% price attainment drove underlying sales up by 11% primarily in the electronics and cyclical end markets, as well as project start-ups.

Further Details About APAC Segment

Volume stayed stable as weaker base volumes offset the contributions from project start-ups, with the base volumes being impacted primarily by seasonality. LIN’s divestitures were largely motivated by the accounting deconsolidation of a joint venture which saw sales suffer 11% compared to the prior year and 12% compared to the previous quarter. Earnings per share, however, were not impacted. Operating profit for the APAC segment came in at USD$351 million, comprising 24.4% of LIN sales and showing 240 basis point growth compared to the prior year.

Promising EMEA Segment Reports

LIN’s Europe, Middle East, and Africa (EMEA) segment generated USD$1.799 billion in sales, indicating a 10% improvement over the numbers reported in the prior year. An increase in demand from the healthcare end market in conjunction with 4% higher pricing drove underlying sales to grow by 4%. With slightly lower volumes having offset the 1% higher pricing, sequential underlying sales stayed constant. Operating profit for the EMEA segment came in at USD$451 million, making up 25.1% of sales and indicating a growth of 340 basis points compared to the previous year.

Engineering Segment

LIN Engineering sales were up by 11% compared to the prior year, with Q1 2021 reporting USD$674 million, with operating profits comprising 16.2% of these sales. Order intake for the first quarter of the fiscal year 2021 came in at USD$461 million, showing a 30% sequential increase; meanwhile, third-party sale of equipment backlog was USD$4.3 billion.

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Future Outlook for LIN

LIN stock enjoyed a considerable and lasting boost around the time financial reports for Q1 2021 were disclosed. Current and potential investors are keen for the company to continue to leverage the resources at its disposal to usher in further significant and sustained increases in shareholder value.

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