Companies /Basic Materials

Linde Plc.

NASDAQ: LIN Specialty Chemicals
$485.35
▼ $4.98 (−1.02%) today
Markets closed · 7:39pm ET

Q1 2026 Earnings

Reported May 1, 2026, 6:47am ET · SEC source
$4.33
Beat +1.40%
EPS · est. $4.27
$8.8B
Beat +2.09%
Revenue · est. $8.6B
−4.7%
Trailing market
LIN vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+2%+4%May 1May 1report 6:47am ETearnings+0.0%+1.2%
0+2%+4%May 1May 1earnings+0.0%+1.2%
LIN +1.2%S&P 500 +0.0%
0+2%+4%May 1May 1report 6:47am ETearnings+0.9%+1.2%
0+2%+4%May 1May 1earnings+0.9%+1.2%
LIN +1.2%NASDAQ +0.9%
−2%0+2%Apr 30May 8report 6:47am ETearnings+2.4%−1.5%
−2%0+2%Apr 30May 8earnings+2.4%−1.5%
LIN −1.5%S&P 500 +2.4%
0+3%+6%Apr 30May 8report 6:47am ETearnings+6.5%−1.5%
0+3%+6%Apr 30May 8earnings+6.5%−1.5%
LIN −1.5%NASDAQ +6.5%
+1.35%
Day of report
−2.83%
Next session
−2.91%
One week
−0.07%
30 days

S&P 500 over the same 30 days: +4.66%.

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 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

“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.”

Linde CEO, on the earnings call

Forward Guidance & Outlook

For Q2 2026, Linde expects adjusted diluted EPS of $4.40 to $4.50, representing 8% to 10% growth versus the prior-year quarter (7% to 9% excluding estimated favorable currency of 1%). For full-year 2026, the company expects adjusted diluted EPS of $17.60 to $17.90, up 7% to 9% assuming favorable currency of 1%. Full-year capital expenditures are expected in the range of $5.0 billion to $5.5 billion to support growth and maintenance requirements including the $7.1 billion contractual sale of gas project backlog.

LIN YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$3.0B$6.0B$9.0B$8.1B$8.8BRevenue$2.2B$2.4BOperating Income$1.7B$1.9BNet Income
$0$3.0B$6.0B$9.0BRevenueOperating IncomeNet Income

LIN Revenue by Segment

Americas$4.0B+10.0%
EMEA$2.2B+7.0%
Asia Pacific$1.7B+11.0%
APAC
Linde Engineering$517.0M−8.0%

LIN Revenue by Geography

Americas$4.0B+10.0%
EMEA$2.2B+7.0%
Asia Pacific$1.7B+11.0%

Figures from SEC filings and company reports. Not investment advice.