Linde plc (LIN) Earnings
Linde plc is expected to report next earnings on August 7, 2026 (in NaN days), with a consensus EPS estimate of $4.48. LIN has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +1.0% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 1, 2026 | $4.27 | $4.33 | +1.4% | $8.8B | +2.1% |
| Feb 5, 2026 | $4.18 | $4.20 | +0.5% | $8.8B | +1.4% |
| Oct 31, 2025 | $4.18 | $4.21 | +0.7% | $8.6B | -0.1% |
| Aug 1, 2025 | $4.03 | $4.09 | +1.5% | $8.5B | +1.6% |
| May 1, 2025 | $3.92 | $3.95 | +0.8% | $8.1B | -1.6% |
| Feb 6, 2025 | $3.94 | $3.97 | +0.8% | $8.3B | -1.6% |
| Oct 31, 2024 | $3.89 | $3.94 | +1.3% | $8.4B | -0.4% |
| Aug 2, 2024 | $3.78 | $3.85 | +1.9% | $8.3B | -0.4% |
| May 2, 2024 | $3.68 | $3.75 | +1.9% | $8.1B | -3.4% |
| Oct 26, 2023 | $3.57 | $3.63 | +1.7% | $8.2B | -4.4% |
| Jul 27, 2023 | $3.48 | $3.57 | +2.6% | $8.2B | -5.7% |
| Apr 27, 2023 | $3.13 | $3.42 | +9.3% | $8.2B | -0.0% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 1, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- The Lindy team delivered solid quarter with EPS of $4.33 growing 10%, operating margins 30%, return on capital 24%. - By end market: Healthcare resilient but US home care flat due to policy; food and beverage grew mid to high single digits; electronics driven by AI chip investments; chemicals and energy led by Americas; metals and mining growth from Americas; manufacturing half from US aerospace. - Helium in oversupply but recent shortages, well positioned with contracted business focusing on meeting commitments and securing long-term agreements. - Sales of $8.8B up 8% yoy, underlying sales up 3% from pricing and volumes. Operating profit $2.6B up 8% yoy. EPS $4.33 up 10%. Operating cash flow $2.2B, free cash flow $900M. - Raised annual dividend by 7%, repurchased $800M stock, reinvested ~$1.5B into business.
Guidance
- Second quarter EPS range $4.40 - $4.50, 8% - 10% growth, includes 1% currency benefit. - Full year updated range $17.60 - $17.90, 7% - 9% growth, includes 1% currency tailwind, assumes no economic improvement at midpoint. - Left top at $17.90 as early to signal increased optimism, but raised bottom due to increased confidence in business resiliency.
Segment performance
Healthcare: 16% of global sales, grew 1% year over year. Food and beverage: 9% of sales, grew 5% from broad-based strength. Electronics: increased 10%, primarily driven by investments in advanced chips for AI. Chemicals and energy: 22% of sales, increased 3%. Metals and mining: grew 3%. Manufacturing: grew 5%, half from aerospace activity in the US. Sales of $8.8 billion were up 8% year-over-year and flat sequentially. Operating profit of $2.6 billion increased 8% year-over-year and resulted in a margin of 30%. EPS of $4.33 was 10% over prior year.
Risks & headwinds
- Geopolitical volatility affecting industrial activity in EMEA, with onsite customers shifting production. - Helium supply chain constraints, though well positioned but need to meet existing customer commitments first. - Uncertainty around longer-term effects of Middle East conflict on industrial activity. - Seasonality impacts on volumes in certain regions like APAC.
Analyst Q&A
Q: On margins, why was Europe flat, Asia down?
A: Europe has weaker industrial environment, no volume recovery; Asia had half sales growth from equipment sale with lower margin, and Q1 seasonality.
Q: On commercial space reaching 5% of sales, capacity and partnerships?
A: In concert with customers, working with launch providers, starting with longer logistics halls and moving to closer contracts as launch cadence increases.
Q: On helium supply shock vs Russian one?
A: Helium business 85 - 90% contracted, Q1 sales flat with pricing decline and volume increase, expecting pricing to rise and more long-term agreements.
Q: On Woodside project slip?
A: Nitrogen startup expected, ATR and TNS slipped to Q1 next year due to construction delays.
Q: On volume landscape across regions?
A: Americas improving with product dislocation, EMEA with chemicals weakness, APAC relatively neutral; US PMI positive affecting hard goods and package gases.
Q: On European energy prices and pricing?
A: Volatile energy prices lead to surcharges, sustained increase needed for price incorporation.
Q: On industrial demand improvement?
A: Stability helps, service economy resilience, IAA and protectionist policies in Americas help, EMEA needs catalysts.
Q: On chemicals and energy segment run rate?
A: Strength in Americas remains, comps get easier.
Q: On other income and FX?
A: Other income 63M vs 26M yoy from a sale; FX 5% impact on sales, EPS, etc.
Q: On EMEA volume and guidance?
A: Guidance assumes no economic improvement, EMEA onsite chemicals and energy declined in Q1.
Q: On volume cyclical upswing and helium volume opportunity?
A: Guarded on global recovery, helium has incremental volume opportunity through long-term contracts.
Q: On project delays and contracts?
A: No concerns on backlog projects; contracts have force majeure language, economic not a force majeure.
Q: On FX contribution and EPS goal?
A: FX 1% assumed in guidance, spots better since then, need management actions and capital allocation to reach double-digit EPS growth