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Linde plc beats Q3 expectations but issues cautious guidance on European demand
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Linde beats Q3 but issues cautious Q4 outlook amid weak European demand; full-year guidance reaffirmed.
Linde plc delivered Q3 adjusted EPS of US$4.21 (up ~7% year-on-year), ahead of analysts’ forecast of US$4.18, with revenue of US$8.62 billion (+3%). The industrial-gases giant cited higher pricing and cost discipline. However it flagged a weaker Europe, Middle East & Africa business and set Q4 adjusted EPS guidance at US$4.10-4.20, below the US$4.23 estimate. Linde reaffirmed 2025 full-year EPS growth guidance of 5-6%, but the cautious outlook weighed on sentiment despite the beat. Investors will watch margin trends and regional volume recovery closely.