MUNICH (dpa-AFX) - Linde (LDE.L, LNAGF.PK), a global industrial gases and engineering company, reported that its net income for the fourth-quarter rose to $770 million or $1.45 per share from $511 million or $0.95 per share in the prior year.
Excluding Linde AG purchase accounting impacts and other charges, adjusted income from continuing operations was $1.22 billion, up 19% from prior year. Adjusted earnings per share was $2.30, 22% above prior year.
Adjusted operating profit of $1.613 billion was up 20% versus prior year led by higher price and continued productivity initiatives across all segments.
Linde's sales for the fourth quarter were $7.272 billion, 3% above prior year. Quarterly underlying sales increased 3% from 2% price attainment and 1% higher volumes, largely due to project start-ups.
The company increased annual dividend 10% and announced new $5 billion share repurchase program.
Looking ahead, the company said that the near-term economic outlook remains uncertain. However, it has confidence in its ability to grow earnings per share double-digit percent irrespective of the macro environment while also leveraging any economic recovery.
The company expects first-quarter 2021 adjusted earnings per share to be in the range of $2.20 - $2.25, represents a 16% -19% growth from the previous year.
For the full year, the company expects adjusted earnings per share to be in the range of $9.10 to $9.30, up 11% to 13% compared to the prior year and 10% to 12% when excluding estimated currency tailwinds.
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