Industrial gas giant Linde reported better-than-expected second-quarter results, with revenue of $9.29 billion, up 9.3%, and adjusted EPS of $4.50, up 10% year over year. Despite these solid results, shares fell 5.5% on Friday, weighed down by challenges in its home health business (Lincare), whose adjusted operating margin came in at 29.5%, below expectations. The electronics segment was a bright spot with 18% year-over-year growth, driven by AI-related semiconductor demand. The combined backlog reached $11.1 billion, and the company maintained a buy-equivalent rating with a $550 price target.
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