Linde Profit Beats Estimates on AI Gas Demand
Industrial gases giant Linde posted a third quarter profit above market expectations driven by strong demand for electronics. Sales to the electronics sector rose significantly as semiconductor manufacturers ramped up capacity.
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Linde PLC reported third-quarter adjusted earnings per share of $4.59 on Thursday morning, beating the $4.52 consensus estimate per LSEG data. The US-German industrial gases provider posted a 9% rise in overall sales to $9.4 billion during the quarter. Semiconductor manufacturers expanding capacity for artificial intelligence infrastructure drove a 15% surge in electronics end-market sales.
