Linde Confident in Clean Energy Projects Despite Market Slowdown
Key Ideas
  • Linde expresses confidence in its clean energy projects despite adjusting its full-year forecast due to market slowdown in sectors like mining and healthcare.
  • The company plans significant investments in hydrogen projects, with a focus on clean hydrogen facilities like the one in Canada to support Dow's Path2Zero production complex.
  • Linde's CEO highlights the importance of the company's capabilities and expertise in contributing to the clean energy transition and meeting the increasing demand for integrated gas management solutions.
  • Despite the economic challenges, Linde reports a 9% increase in adjusted EPS in the July-September quarter, surpassing analysts' estimates, with total sales also showing a slight increase.
Linde, the world's largest industrial gases company, remains optimistic about its clean energy initiatives even after revising its full-year forecast due to a slowdown in various end markets. CEO Sanjiv Lamba expressed confidence in the company's $8-10 billion hydrogen investment plans over the next few years, emphasizing the significance of such projects in the clean energy transition. Linde's recent announcement of investing over $2 billion in a clean hydrogen facility in Canada to support Dow's Path2Zero complex underscores the company's commitment to reducing carbon dioxide emissions. Despite challenges in the market, Linde reported a 9% increase in adjusted EPS in the third quarter, beating analysts' expectations. The company aims to continue its investments in clean energy projects, leveraging its expertise and product offerings to meet the growing demand for integrated gas management solutions in various industries.
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