Should investors be concerned about LIN's EPS fluctuations?

**Investors should not be overly concerned about LIN's EPS fluctuations**, considering the following points:

1. **Consistent Performance**: Linde has demonstrated a consistent track record of earnings growth, with adjusted EPS exceeding expectations in several quarters. This indicates a strong underlying performance that can mitigate concerns about fluctuations in EPS.
2. **Strategic Adjustments**: The company's ability to adjust pricing and manage productivity strategically has contributed to improved operating margins and profitability. This suggests that the fluctuations in EPS may be influenced by management's proactive approach to market conditions.
3. **Macroeconomic Factors**: Some fluctuations in EPS can be attributed to macroeconomic factors such as currency impacts and project prepayment timing, which are outside of the company's control. Recognizing these factors can help investors better understand the context of EPS changes.
4. **Analyst Expectations**: Analysts have consistently revised their EPS expectations upward for Linde, reflecting confidence in the company's growth prospects. This positive sentiment can reassure investors that any fluctuations may be temporary or part of a broader growth trajectory.
5. **Dividend and Shareholder Returns**: Linde has a history of returning value to shareholders through dividends and stock repurchases, which can be a positive sign despite EPS fluctuations. This commitment to shareholder returns may help offset concerns about EPS volatility.

In conclusion, while EPS fluctuations are a normal part of any investment, the context provided by Linde's consistent growth, strategic adjustments, and positive analyst sentiment suggests that investors should not be overly concerned. However, it's important for investors to monitor the company's performance closely and consider their own risk tolerance and investment horizon when assessing LIN's EPS fluctuations.