What caused LIN's Q4 2024 EPS to fall short of forecasts?

Linde's Q4 2024 EPS fell short of forecasts due to weaker-than-expected revenues, despite exceeding earnings estimates on strong cost management and pricing power in key segments:

1. **Revenue Shortfall**: Total revenue for the quarter was $8.28 billion, missing the expected $8.42 billion, indicating a shortfall of approximately $140 million. This shortfall may be attributed to softer-than-anticipated sales in certain regions or business segments.
2. **Regional Sales Variations**: While sales in the Americas grew by 1%, primarily driven by sectors such as manufacturing, food, and electronics, the Asia-Pacific region saw a 2% increase due to growth in the electronics sector. However, sales in the Europe/Middle East/Africa region declined by 2%, which Linde attributed to reduced manufacturing volumes. These regional variations could have collectively impacted overall revenue and contributed to the shortfall.
3. **Cost Management and Profitability**: Despite the revenue shortfall, Linde showcased strong cost management, resulting in an improved adjusted operating profit margin of 29.9%. This reflects the company's ability to maintain profitability amidst softer revenues, partly offsetting the impact of the revenue shortfall on EPS.

In summary, Linde's Q4 2024 EPS fell short of forecasts due to weaker-than-anticipated revenues, primarily driven by regional sales variations, while strong cost management and profitability measures helped mitigate the impact of the revenue shortfall.