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Linde (A2/A): 1Q24 Results Preview

BASIC INDUSTRIES

US listed LIN reports 11am tomorrow London time


• At 4Q23 revenue beat by 3% with EBITDA in line.

• Revenue and adj. EBITDA are expected at $8.4bn and $3.1bn, up 2.5% and 5% YoY.

• A stable credit with 1.3x leverage at year end. Not expecting much to rock the boat here.

• Spreads have compressed slightly vs rating peer AIFP since Q4 results and YTD; now just ~5bp wider.

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