Q1 26 EPS
$4.33
BEAT +1.40%
Est. $4.27
Q1 26 Revenue
$8.78B
BEAT +2.09%
Est. $8.60B
vs S&P Since Q1 26
-11.1%
TRAILING MARKET
LIN -3.8% vs S&P +7.2%
Market Reaction
Did LIN Beat Earnings? Q1 2026 Results
Linde plc delivered a clean beat across both top and bottom lines in the first quarter of 2026, extending its run of consensus EPS beats to four consecutive quarters as the industrial gas giant continued to demonstrate pricing discipline amid what CE… Read more Linde plc delivered a clean beat across both top and bottom lines in the first quarter of 2026, extending its run of consensus EPS beats to four consecutive quarters as the industrial gas giant continued to demonstrate pricing discipline amid what CEO Sanjiv Lamba called "increasingly challenging global conditions." Adjusted EPS of $4.33 topped the $4.27 consensus estimate by 1.40%, while revenue of $8.78 billion came in 2.09% ahead of the $8.60 billion consensus and grew 8.3% year-over-year, aided by a favorable 5% currency tailwind and solid underlying price attainment of 2%. The Americas segment was the standout driver, generating $4.03 billion in sales, up 10%, with 4% pricing gains in electronics, manufacturing, and metals and mining leading the charge. Adjusted operating profit reached $2.63 billion at a 30.0% margin, while operating cash flow climbed 4% to $2.24 billion. Looking ahead, Linde guided second-quarter adjusted EPS of $4.40 to $4.50 and set full-year 2026 adjusted EPS guidance at $17.60 to $17.90, implying 7% to 9% growth.
Key Takeaways
- • 2% price attainment across portfolio
- • 1% volume growth primarily from project start-ups
- • 5% favorable currency impact
- • 1% contribution from acquisitions
- • Continued productivity initiatives across all segments
- • Americas underlying sales up 6% driven by 4% pricing and 2% volumes in electronics, manufacturing, and metals & mining
- • Asia Pacific underlying sales up 6% driven by 6% volume growth in electronics, chemicals & energy, and project startups
- • EMEA operating profit margin expanded 60 basis points to 36.1% despite 2% underlying sales decline
LIN YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
LIN Revenue by Segment
With YoY comparisons, source: SEC Filings
LIN Revenue by Geography
With YoY comparisons, source: SEC Filings
“Linde employees delivered another solid quarter with 10% EPS growth, 30% operating margin and 24% return on capital under increasingly challenging global conditions. These results underscore the resiliency of our operating model, discipline of capital allocation and perseverance of management actions.”
— Sanjiv Lamba, Q1 2026 Earnings Press Release
LIN Earnings Trends
LIN vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LIN EPS Trend
Earnings per share: estimate vs actual
LIN Revenue Trend
Quarterly revenue: estimate vs actual
LIN Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $4.49 | $4.50 | +0.22% | $9.29B | — |
| Q1 26 BEAT | $4.27 | $4.33 | +1.40% | $8.78B | +2.09% |
| Q4 25 BEAT FY | $4.18 | $4.20 | +0.55% | $8.76B | +1.35% |
| FY Full Year | $16.41 | $16.46 | +0.33% | $34.00B | +0.39% |
| Q3 25 BEAT | $4.18 | $4.21 | +0.75% | $8.62B | -0.01% |
| Q2 25 BEAT | $4.04 | $4.09 | +1.36% | $8.50B | +1.40% |
| Q1 25 BEAT | $3.92 | $3.95 | +0.68% | $8.11B | -1.69% |