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Matt Dale

Managing Director and Senior Equity Research Analyst at Bank of America Corp. /de/

Matt Dale is a Managing Director and Senior Equity Research Analyst at Bank of America, specializing in healthcare and pharmaceuticals sector research with a focus on companies such as Alvotech and others in the biotech space. He is known for in-depth analysis of market performance and industry trends, contributing to investor decisions and portfolio performance. Dale began his analyst career at a leading financial institution before joining Bank of America as a senior analyst, and has advanced to his current position through demonstrated technical expertise and sector knowledge. He holds Series 7 and Series 63 securities licenses and maintains active FINRA registration while earning recognition for his analytical rigor.

Matt Dale's questions to LINDE (LIN) leadership

Question · Q3 2025

Matthew Dale from Bank of America questioned the sequential pricing trend, noting it didn't move up, and asked about Linde's confidence in continuing to increase pricing amidst a slower macroeconomic environment.

Answer

CFO Matt White explained that sequential pricing can vary due to contract anniversary and escalation timings, emphasizing that year-over-year pricing of 2% aligns with globally weighted inflation. CEO Sanjiv Lamba added that helium and rare gases, though a small portion of revenue, have been a drag on pricing, particularly in APAC.

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Question · Q3 2025

Matthew Dale inquired about the sequential movement of pricing, noting it didn't move up, and asked about Linde's confidence in continuing to increase prices given the slower macroeconomic environment.

Answer

Matt White, CFO, explained that sequential pricing can vary due to timing differences in contract anniversaries and escalations, preferring to focus on the 2% year-over-year increase which aligns with global inflation. Sanjiv Lamba, CEO, added that helium and rare gases, particularly in APAC, have been a drag on pricing, though their overall impact on enterprise revenue is small.

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Matt Dale's questions to SHERWIN WILLIAMS (SHW) leadership

Question · Q2 2025

Matt Dale from Bank of America questioned why supply chain inefficiencies appeared to be a larger headwind in the quarter and asked about the outlook for fixed cost leverage if business conditions were to deteriorate further.

Answer

SVP of Finance & CFO Al Mestyshin explained that production schedules were adjusted downward in Q2 to match lower sales, resulting in lost absorption of fixed costs. For the second half, he noted that these inefficiencies account for about 20% of the expected gross profit reduction, and stressed the company's discipline in managing inventory to match demand.

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Question · Q2 2025

Matt Dale of Bank of America asked for more detail on the supply chain inefficiencies, why they became a larger headwind in Q2, and how to think about fixed cost leverage if demand deteriorates further.

Answer

CFO Allen Mistysyn explained that production schedules were adjusted down to match lower sales volumes, which negatively impacted absorption of fixed costs, as manufacturing sites are about 60% fixed. He noted that for the second half, about 20% of the gross profit reduction is due to these inefficiencies, and the company is managing inventory tightly to prevent issues in 2026.

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