Linde (NASDAQ:LIN) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Linde (NASDAQ:LIN) posted its quarterly earnings results on Thursday. The basic materials company reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.02, FiscalAI reports. The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.64 billion. Linde had a net margin of 21.17% and a return on equity of 19.38%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior 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 Price Performance

Shares of LIN stock traded down $10.80 during trading hours on Thursday, hitting $462.53. The company had a trading volume of 1,677,453 shares, compared to its average volume of 2,399,011. Linde has a 12 month low of $387.78 and a 12 month high of $486.38. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.69 and a current ratio of 0.82. 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 price-to-earnings ratio of 30.98, a PEG ratio of 3.25 and a beta of 0.84.

Key Linde News

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

Hedge Funds Weigh In On Linde

Several institutional investors have recently added to or reduced their stakes in LIN. Advisory Services Network LLC grew its position in Linde by 0.5% in the third quarter. Advisory Services Network LLC now owns 13,922 shares of the basic materials company’s stock valued at $6,613,000 after purchasing an additional 70 shares in the last quarter. Morningstar Investment Management LLC acquired a new position in shares of Linde during the third quarter worth $7,090,000. Kestra Private Wealth Services LLC grew its stake in shares of Linde by 1.0% in the third quarter. Kestra Private Wealth Services LLC now owns 21,869 shares of the basic materials company’s stock worth $10,388,000 after purchasing an additional 226 shares during the last quarter. Parvin Asset Management LLC increased its holdings in Linde by 62.4% in the third quarter. Parvin Asset Management LLC now owns 690 shares of the basic materials company’s stock valued at $328,000 after purchasing an additional 265 shares during the period. Finally, United Capital Financial Advisors LLC lifted its holdings in Linde by 3.9% during the 3rd quarter. United Capital Financial Advisors LLC now owns 13,052 shares of the basic materials company’s stock worth $6,200,000 after buying an additional 495 shares during the period. 82.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on LIN shares. Sanford C. Bernstein reissued an “outperform” rating and set a $516.00 price objective on shares of Linde in a report on Monday, November 3rd. CICC Research began coverage on Linde in a report on Wednesday, December 3rd. They issued an “outperform” rating and a $510.00 target price for the company. JPMorgan Chase & Co. lowered their price objective on shares of Linde from $475.00 to $455.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. Royal Bank Of Canada decreased their price target on Linde from $540.00 to $490.00 and set an “outperform” rating for the company in a report on Friday, December 12th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Linde in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Linde presently has an average rating of “Buy” and a consensus target price of $501.75.

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.