Linde (NASDAQ:LIN) Posts Earnings Results, Beats Expectations By $0.02 EPS

Linde (NASDAQ:LIN) released its quarterly earnings results on Thursday. The basic materials company reported $4.20 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $0.02, FiscalAI reports. The business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.64 billion. Linde had a return on equity of 19.38% and a net margin of 21.17%.The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $3.97 earnings per share. Linde updated its Q1 2026 guidance to 4.200-4.300 EPS and its FY 2026 guidance to 17.400-17.900 EPS.

Here are the key takeaways from Linde’s conference call:

• Linde reported record full‑year results — Q4 sales of $8.8 billion (+6%), a 29.5% Q4 operating margin, record EPS and operating cash flow, and returned more than $7 billion to shareholders (including $1.4 billion of buybacks in Q4).
• The company has a record backlog of $10 billion (excluding ~$500 million of space investments), with two‑thirds tied to contracted clean‑energy projects and a strong pipeline in advanced electronics fabs and space launches (company estimates ~65–75% share by launch).
• 2026 guidance is deliberately cautious — EPS range of $17.40–$17.90 (up 6–9%), anchored at 0% base volume and assuming a 1% FX tailwind (Q1 FX assumption of +3%), so outcomes depend heavily on macro and FX moves.
• Management initiated additional Q4 restructuring to align resources for uneven geographic growth; CFO expects cash payback similar to prior programs (roughly a two‑year payback) with most benefits hitting in the second half of 2026.
• Helium and rare‑gas dynamics were a meaningful drag (~1–2% EPS headwind in 2025) and helium remains long in the medium term, representing an ongoing downside risk to margins and earnings.

Linde Trading Down 2.3%

NASDAQ:LIN traded down $10.80 during midday trading on Thursday, hitting $462.53. 1,677,453 shares of the company traded hands, compared to its average volume of 2,399,011. The company has a current ratio of 0.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.46. The firm’s fifty day moving average is $429.29 and its 200-day moving average is $447.90. The firm has a market capitalization of $215.98 billion, a P/E ratio of 30.98, a P/E/G ratio of 3.25 and a beta of 0.84. Linde has a 12-month low of $387.78 and a 12-month high of $486.38.

Analyst Ratings Changes

LIN has been the topic of several recent research reports. Mizuho set a $495.00 price target on Linde in a research note on Thursday, December 11th. JPMorgan Chase & Co. cut their price objective on shares of Linde from $475.00 to $455.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. BMO Capital Markets set a $501.00 price objective on shares of Linde in a research note on Wednesday, December 17th. Citigroup increased their price target on shares of Linde from $520.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $516.00 price objective on shares of Linde in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $501.75.

Key Stories Impacting Linde

Here are the key news stories impacting Linde this week:

• Positive Sentiment: Linde beat Q4 EPS and revenue estimates, driven by higher Americas pricing and stronger volumes; adjusted EPS rose ~6% year-over-year. Zacks: Surpasses Q4 Estimates
• Positive Sentiment: Zacks highlights that segment profits rose across regions and that Americas pricing materially contributed to the beat, supporting the company’s underlying margins. Zacks: Americas Pricing Lift
• Neutral Sentiment: Linde’s official release shows adjusted results up while GAAP net income and diluted EPS declined (purchase accounting and charges); adjusted metrics improved but the GAAP picture tempers the beat. BusinessWire: Q4 & Full-Year Results
• Neutral Sentiment: Linde issued Q1 2026 EPS guidance of $4.20–4.30 and FY 2026 guidance of $17.40–17.90, essentially in line with consensus — supportive of stability but not a beat that would drive re-rating. MarketBeat: Guidance & Materials
• Negative Sentiment: An analyst piece (Seeking Alpha) kept a “Hold,” lowered the price target and warned the December buying opportunity was missed — signaling limited near-term upside and contributing to selling pressure. Seeking Alpha: Hold, PT Cut

Institutional Trading of Linde

Several institutional investors and hedge funds have recently made changes to their positions in the company. Brighton Jones LLC purchased a new stake in shares of Linde during the fourth quarter valued at about $2,752,000. Revolve Wealth Partners LLC grew its stake in Linde by 14.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 777 shares of the basic materials company’s stock worth $325,000 after buying an additional 96 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in Linde by 19.8% in the second quarter. Sivia Capital Partners LLC now owns 1,569 shares of the basic materials company’s stock valued at $736,000 after purchasing an additional 259 shares during the last quarter. Schnieders Capital Management LLC. grew its position in Linde by 19.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 897 shares of the basic materials company’s stock worth $421,000 after purchasing an additional 145 shares during the period. Finally, Gabelli Funds LLC lifted its holdings in shares of Linde by 3.2% in the 2nd quarter. Gabelli Funds LLC now owns 5,625 shares of the basic materials company’s stock valued at $2,639,000 after buying an additional 175 shares during the period. 82.80% of the stock is currently owned by institutional investors.

About Linde

Linde (NASDAQ: LIN) is a multinational industrial gases and engineering company that supplies gases, related technologies and services to a wide range of industries. The company traces its current form to the 2018 combination of Germany’s Linde AG and U.S.-based Praxair, creating one of the largest global providers of industrial, specialty and medical gases. Linde’s business model centers on production, processing and distribution of gases as well as the design and construction of the plants and equipment needed to produce them.

Core products and services include atmospheric and process gases such as oxygen, nitrogen and argon; hydrogen and helium; carbon dioxide; and a portfolio of higher‑value specialty and electronic gases.