OpenNashEarnings

Industrials · Nasdaq: LIN

Linde earnings: results, call transcripts & KPI history

2 quarters · fiscal year ends December · next results expected around 4 Feb 2027

Investor relations ↗SEC filings ↗KPIs as CSV

Latest: Q3 2026

Linde reported third-quarter 2026 sales of $9.4 billion, up 9%, adjusted EPS of $4.59, up 9% YoY, and GAAP EPS of $3.66, down 11%.

Linde posted record quarterly sales of $9,404 million, up 9%, with underlying sales up 5% from 3% higher prices and 2% higher volumes. Adjusted EPS of $4.59 rose 9%, but GAAP EPS fell 11% to $3.66 after a $425 million restructuring charge. Operating cash flow was $3,169 million. Electronics and chemicals & energy drove growth, while Europe stayed flat and the Lincare home-care business remained a drag.

Read the Q3 2026 summary →

Quarters

KPI history

Revenue$9.4B+9.2% y/yQ3 2026
Q4 2024: $8.3B (worked out from the annual figure)Q4 ’24$8.3BQ1 2025: $8.1BQ1 ’25$8.1BQ2 2025: $8.5BQ2 ’25$8.5BQ3 2025: $8.6BQ3 ’25$8.6BQ4 2025: $8.8B (worked out from the annual figure)Q4 ’25$8.8BQ1 2026: $8.8BQ1 ’26$8.8BQ2 2026: $9.3BQ2 ’26$9.3BQ3 2026: $9.4BQ3 ’26$9.4B

Fourth quarter worked out from the annual figure.

Data
Q4 2024$8.3B *
Q1 2025$8.1B
Q2 2025$8.5B
Q3 2025$8.6B
Q4 2025$8.8B *
Q1 2026$8.8B
Q2 2026$9.3B
Q3 2026$9.4B
Diluted EPS (GAAP)$3.66−10.5% y/yQ3 2026
Q1 2025: $3.51Q1 ’25$3.51Q2 2025: $3.73Q2 ’25$3.73Q3 2025: $4.09Q3 ’25$4.09Q1 2026: $3.98Q1 ’26$3.98Q2 2026: $4.15Q2 ’26$4.15Q3 2026: $3.66Q3 ’26$3.66
Data
Q1 2025$3.51
Q2 2025$3.73
Q3 2025$4.09
Q1 2026$3.98
Q2 2026$4.15
Q3 2026$3.66

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Operating margin22.9%−4.6 pts y/yQ3 2026
Q4 2024: 27.4%Q4 ’2427.4%Q1 2025: 26.9%Q1 ’2526.9%Q2 2025: 27.7%Q2 ’2527.7%Q3 2025: 27.5%Q3 ’2527.5%Q4 2025: 23.0%Q4 ’2523.0%Q1 2026: 27.8%Q1 ’2627.8%Q2 2026: 27.5%Q2 ’2627.5%Q3 2026: 22.9%Q3 ’2622.9%
Data
Q4 202427.4%
Q1 202526.9%
Q2 202527.7%
Q3 202527.5%
Q4 202523.0%
Q1 202627.8%
Q2 202627.5%
Q3 202622.9%
Free cash flow$1.8B+6.3% y/yQ3 2026
Q4 2024: $1.6BQ4 ’24$1.6BQ1 2025: $891.0MQ1 ’25$891.0MQ2 2025: $954.0MQ2 ’25$954.0MQ3 2025: $1.7BQ3 ’25$1.7BQ4 2025: $1.6BQ4 ’25$1.6BQ1 2026: $898.0MQ1 ’26$898.0MQ2 2026: $833.0MQ2 ’26$833.0MQ3 2026: $1.8BQ3 ’26$1.8B
Data
Q4 2024$1.6B
Q1 2025$891.0M
Q2 2025$954.0M
Q3 2025$1.7B
Q4 2025$1.6B
Q1 2026$898.0M
Q2 2026$833.0M
Q3 2026$1.8B

Operating cash flow minus capital expenditure, from cash flow statements.

Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Revenue$8.3Bd$8.1B$8.5B$8.6B$8.8Bd$8.8B$9.3B$9.4B
Operating income$2.3Bd$2.2B$2.4B$2.4B$2.0Bd$2.4B$2.6B$2.1B
Operating margin27.4%26.9%27.7%27.5%23.0%27.8%27.5%22.9%
Net income$1.7Bd$1.7B$1.8B$1.9B$1.5Bd$1.9B$1.9B$1.7B
Diluted EPS—$3.51$3.73$4.09—$3.98$4.15$3.66
Operating cash flow$2.8Bd$2.2B$2.2Bd$2.9Bd$3.0Bd$2.2B$2.3Bd$3.2Bd
Capital expenditure$1.2Bd$1.3B$1.3Bd$1.3Bd$1.5Bd$1.3B$1.4Bd$1.4Bd
Free cash flow$1.6B$891.0M$954.0M$1.7B$1.6B$898.0M$833.0M$1.8B
R&D expense$39.0Md$38.0M$38.0M$36.0M$35.0Md$38.0M$37.0M$37.0M

From XBRL data in 10-Q and 10-K filings. d derived: a fourth quarter is the full year minus the first nine months, and cash flows are year-to-date figures differenced.

10-Q and 10-K filings