Key Points 2025 earnings pressure stemmed mainly from LNG divestiture impacts and cancelled projects, while the core industrial gas business (ex-helium) remained solid New management cutting underperforming projects, reducing capex, and rightsizing...
Key Points Improved capital allocation coupled with focus on core business should result in management stated medium-term targets being achievable Free cash flow generation should rev up FY2026 and beyond while debt...
Key Points Capital allocation and IRR concerns being addressed, in our view. Underperformance relative to Linde should reverse Free cash flow generation should rev up FY2025 and beyond while debt levels should...
Key Points Capital allocation and IRR concerns being addressed, in our view. Underperformance relative to Linde should reverse Free cash flow generation should rev up FY2025 and beyond while debt levels should...