Linde Q3 Sales Rise 9% to $9.4 Billion: Adjusted EPS Up 9% to $4.59, Full-Year Guidance Raised to $17.82-$17.92
Linde plc (Nasdaq: LIN), the world's largest industrial gases company, reported third-quarter 2026 results on October 29: sales were $9.404 billion, up 9% year over year including a 1% favorable currency impact. Underlying sales rose 5%, from 3% price attainment and 2% higher volumes, led mainly by the electronics, chemicals and energy, and manufacturing end markets.
Net income was $1.692 billion and diluted earnings per share were $3.66, down 12% and 11% respectively, reflecting Linde AG purchase accounting impacts and cost reduction program and other charges. Excluding those items, adjusted net income rose 7% to $2.122 billion and adjusted diluted EPS rose 9% to $4.59, above the $4.52 analyst mean estimate reported by LSEG. Operating profit was $2.150 billion, and adjusted operating profit rose 8% to $2.763 billion, for an adjusted operating profit margin of 29.4%.
Operating cash flow rose 8% to $3.169 billion; after capital expenditures of $1.392 billion, free cash flow was $1.777 billion. The company returned $1.685 billion to shareholders through dividends and stock repurchases, net of issuances, during the quarter. Its project backlog stood at $11 billion.
Linde raised its full-year 2026 adjusted diluted EPS guidance to $17.82 to $17.92, representing growth of 8% to 9%, from a previous $17.70 to $17.90. For the fourth quarter it expects adjusted EPS of $4.40 to $4.50, up 5% to 7% from a year earlier.
Chief Executive Officer Sanjiv Lamba said the company's financial performance continued to improve in the third quarter, with record sales of $9.4 billion and record EPS of $4.59 alongside strong operating cash flow of $3.2 billion, and that customer proposal activity remains robust, particularly across electronics, supporting confidence in continued backlog growth.
Source: GSM · USA (original Chinese edition)
Photo: 图：Linde 位于 West Virginia 州 Washington 的空气分离工厂实景，左侧标识牌可见 Linde 字样。Snoopywv 摄，CC BY-SA 3.0，经 Wikimedia Commons。Photo: Linde's air separation plant in Washington, West Virginia. Snoopywv, CC BY-SA 3.0, via Wikimedia Commons.
