May 7, 2020 / 10:33 AM / 23 days ago

Linde reports Q1 beat thanks to resilient contract portfolio

May 7 (Reuters) - U.S.-German industrial gas producer Linde reported better-than-expected quarterly earnings on Thursday, citing its strong balance sheet and contract portfolio.

The supplier of gases such as oxygen, nitrogen and hydrogen to factories and hospitals reported first-quarter adjusted pro forma earnings per share (EPS) of $1.89, above the $1.84 expected on average by analysts according to a Refinitiv poll.

“Linde entered 2020 with a very robust balance sheet, $10 billion of contractually secured backlog and significant opportunities to enhance the portfolio and overall business quality - all of which will serve us well during these uncertain times,” Chief Executive Steve Angel said in a statement. (Reporting by Zuzanna Szymanska in Gdansk Editing by Tomasz Janowski)

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