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Shares of Linde fell on Thursday after the industrial gas giant reported mixed first-quarter results and its guidance left some investors wanting more. We're not sure of the rationale for excluding it but that explains why we're not fretting about Linde's lack of guidance raise. Guidance For the second quarter, Linde projects adjusted EPS between $3.70 and $3.80, which implies 5% to 7% year-over-year growth, excluding currency impacts. As always with Linde, the midpoint of the guidance assumes no economic improvement. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Linde, , Sanjiv Lamba, Matthew White, White, Lamba, Eaton, We're, we're, Jim Cramer's, Jim Cramer, Jim, Michaela Rehle Organizations: Linde, Revenue, LSEG, Products, Management, LIN, Nvidia, CNBC Locations: Munich, Pullach, Germany
The stock popped nearly 4% as Wall Street showed appreciation for what we've been saying all along about the durability of the company's businesses even in tough times. Excluding foreign exchange (forex) fluctuations, this marks the ninth quarter in a row of 20% or better annual earnings growth —especially remarkable during multi-decade high inflation. Linde's stock is about 5.7% from its intraday all-time high of $352.18 on Jan. 5, 2022. Although about two-thirds of Linde's sales are in more cyclical end markets, Linde's business model is very defensive. The table above is a look at Q4 sales growth numbers for each category.
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