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Renewable energy is one of the fastest-growing industries in the stock market, as it is a need society has to address. For example, solar power generation is expected to grow 75% in just the next two years.
Higher pricing from the Americas segment aids Linde's (LIN) Q1 earnings, offset partially by lower contributions from the Engineering business unit.
The headline numbers for Linde (LIN) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Linde (LIN) came out with quarterly earnings of $3.75 per share, beating the Zacks Consensus Estimate of $3.68 per share. This compares to earnings of $3.42 per share a year ago.
Here is how Linde (LIN) and Steel Dynamics (STLD) have performed compared to their sector so far this year.
Linde's (LIN) Q1 earnings are likely to have been negatively impacted by a sluggish global economy and geopolitical tensions. Its operating profit from the Engineering business unit might have also decreased.
High interest rates seem to be plaguing many sectors of the economy. The electric vehicle space perhaps received the most coverage, but several renewable energy sectors are reeling from elevated rates.
In the most recent trading session, Linde (LIN) closed at $443.18, indicating a -0.15% shift from the previous trading day.
Linde (LIN) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
WOKING, UK / ACCESSWIRE / April 5, 2024 / Linde (Nasdaq:LIN) will release its first quarter 2024 financial results by 06:00 EDT/midday CEST on Thursday, May 2, 2024. The Company will host and webcast its conference call at 09:00 EDT/15:00 CEST, which will be available to the public and the media in listen-only mode.