Linde Charts Clean-Energy Course with 10-Year, $50 Billion Plan

October 27, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Linde plc (NYSE:LIN) (Woking, England) is increasingly optimistic about its earnings guidance for full-year 2023, as global demand for clean energy is boosting fortunes at the world's largest industrial gases company. Although its global sales fell 7% in the third quarter, the company expects to invest more than $50 billion worldwide over the next 10 years as the U.S. and other governments encourage and incentivize low-carbon energy.

Industrial Info is tracking more than $2.5 billion worth of active and planned Linde projects across the U.S., more than 80% of which is attributed to grassroot projects. In a quarterly earnings-related conference call, Linde executives announced the company had raised its annual earnings guidance for a third time in 2023. This followed news that Linde's third-quarter net income totaled $1.57 billion, up 23% from the same period last year. Full-year capital expenditures are expected to range between $3.5 billion and $4 billion, including two projects that started construction in 2022 and are set to wrap up before the end of the year.

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