We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Linde reported Q1 EPS of $4.33, up 10% YoY, beating estimates on strong pricing.
Linde's revenue rose 8% to $8.78B, supported by project start-ups and volumes.
LIN holds a $10.1B backlog and raised its dividend by 7%, marking 33 straight years of growth.
Linde plc (LIN - Free Report) reported first-quarter 2026 adjusted earnings per share (EPS) of $4.33, up 10% from $3.95 a year ago. The figure topped the Zacks Consensus Estimate of $4.27 by 1.41%.
Total quarterly revenues of $8.78 billion rose 8% from $8.11 billion recorded in the year-ago period. The top line beat the Zacks Consensus Estimate of $8.51 billion by 3.17%.
The strong quarterly results can be attributed to higher pricing and incremental project start-ups, which supported underlying growth.
LIN Leans on Price Attainment and Project Start-Ups
The top-line beat was driven by a mix of operational factors. Compared with the prior-year quarter, underlying sales increased 3%, supported by 2% price attainment and 1% volume growth, driven by project start-ups. Acquisitions added another 1% to sales growth.
LIN Protects Operating Leverage Despite Macro Friction
Linde reported operating profit of $2.44 billion and adjusted operating profit of $2.63 billion, up from $2.18 billion and $2.44 billion, respectively, recorded in the prior-year quarter.
Net income attributable to Linde increased from the year-ago figure of $1.67 billion to $1.86 billion. The company’s adjusted net income was $2.02 billion, up 7% year over year from $1.88 billion, reflecting stronger operating profit and ongoing productivity initiatives across segments.
LIN’s Segmental Highlights
Geographically, the Americas remained the key growth contributor, with segment sales of $4.03 billion, up 10% year over year from $3.67 billion. The increase was supported by stronger pricing and higher volumes, with electronics and manufacturing highlighted as key end markets. Segment operating profit reached $1.27 billion, up from $1.14 billion recorded in the year-ago quarter.
APAC sales rose to $1.70 billion, reflecting an 11% increase from $1.54 billion a year ago. Volumes were the main driver, aided by project start-ups and demand in electronics, as well as chemicals and energy. Segment operating profit increased from $451 million to $477 million for the quarter.
EMEA sales amounted to $2.17 billion, up 7% from the year-ago quarter’s figure of $2.03 billion. Underlying performance was less favorable, with volume pressure in chemicals, energy and manufacturing offsetting pricing gains. Segment operating profit improved to $784 million from $722 million recorded in the prior-year quarter.
Engineering sales decreased from $565 million in the prior-year quarter to $517 million. Operating profit in the Engineering segment declined to $101 million from $114 million in the prior-year quarter.
LIN’s Backlogs
At the end of the first quarter, the company’s high-quality project backlog amounted to $10.1 billion, comprising a sale-of-gas backlog of $7.1 billion.
Cash flow remained supportive of capital returns and investment priorities. First-quarter operating cash flow was $2.24 billion, up 4% from $2.16 billion in the prior-year quarter. Capital expenditures totaled $1.34 billion, resulting in free cash flow of $898 million.
Capital deployment was directed toward returning cash to shareholders alongside continued growth investment. During the quarter, Linde returned $1.55 billion through dividends and stock repurchases, net of issuances. The company has raised its dividend by 7% in 2026, marking 33 consecutive years of dividend increases.
LIN’s 2026 Guidance
Management’s near-term and full-year guidance remained centered on steady execution rather than a sharp demand rebound. For the second quarter of 2026, Linde expects EPS to be in the range of $4.40-$4.50, implying 8% to 10% growth versus the prior-year quarter, or 7% to 9% excluding an estimated 1% currency benefit.
For full-year 2026, EPS is expected to be in the range of $17.60-$17.90, suggesting 7-9% growth and assuming a 1% favorable currency impact.
Capital expenditures are expected to be between $5.0 billion and $5.5 billion, reflecting both maintenance needs and growth spending tied to the company’s contractual project pipeline.
Dow reported a first-quarter 2026 loss of 14 cents per share, narrower than the Zacks Consensus Estimate of a loss of 39 cents.
As of March 31, 2026, DOW reported $4.1 billion in cash and cash equivalents. At the quarter's end, its long-term debt amounted to $17.3 billion.
CF Industries is the largest producer of ammonia globally. The company is scheduled to release first-quarter 2026 earnings on May 7. The Zacks Consensus Estimate for CF’s earnings is pegged at $2.35 per share, which implies an increase of 27% from the prior-year reported figure.
Nutrien, based in Canada, is a leading integrated provider of crop inputs and services. NTR is scheduled to release first-quarter 2026 earnings on May 6. The Zacks Consensus Estimate for NTR’s earnings is pegged at 48 cents per share, which implies an increase of 336.4% from the prior-year reported figure.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Linde Q1 Earnings Beat Estimates, Revenues Rise Y/Y, Dividend Raised
Key Takeaways
Linde plc (LIN - Free Report) reported first-quarter 2026 adjusted earnings per share (EPS) of $4.33, up 10% from $3.95 a year ago. The figure topped the Zacks Consensus Estimate of $4.27 by 1.41%.
Total quarterly revenues of $8.78 billion rose 8% from $8.11 billion recorded in the year-ago period. The top line beat the Zacks Consensus Estimate of $8.51 billion by 3.17%.
The strong quarterly results can be attributed to higher pricing and incremental project start-ups, which supported underlying growth.
Linde PLC Price, Consensus and EPS Surprise
Linde PLC price-consensus-eps-surprise-chart | Linde PLC Quote
LIN Leans on Price Attainment and Project Start-Ups
The top-line beat was driven by a mix of operational factors. Compared with the prior-year quarter, underlying sales increased 3%, supported by 2% price attainment and 1% volume growth, driven by project start-ups. Acquisitions added another 1% to sales growth.
LIN Protects Operating Leverage Despite Macro Friction
Linde reported operating profit of $2.44 billion and adjusted operating profit of $2.63 billion, up from $2.18 billion and $2.44 billion, respectively, recorded in the prior-year quarter.
Net income attributable to Linde increased from the year-ago figure of $1.67 billion to $1.86 billion. The company’s adjusted net income was $2.02 billion, up 7% year over year from $1.88 billion, reflecting stronger operating profit and ongoing productivity initiatives across segments.
LIN’s Segmental Highlights
Geographically, the Americas remained the key growth contributor, with segment sales of $4.03 billion, up 10% year over year from $3.67 billion. The increase was supported by stronger pricing and higher volumes, with electronics and manufacturing highlighted as key end markets. Segment operating profit reached $1.27 billion, up from $1.14 billion recorded in the year-ago quarter.
APAC sales rose to $1.70 billion, reflecting an 11% increase from $1.54 billion a year ago. Volumes were the main driver, aided by project start-ups and demand in electronics, as well as chemicals and energy. Segment operating profit increased from $451 million to $477 million for the quarter.
EMEA sales amounted to $2.17 billion, up 7% from the year-ago quarter’s figure of $2.03 billion. Underlying performance was less favorable, with volume pressure in chemicals, energy and manufacturing offsetting pricing gains. Segment operating profit improved to $784 million from $722 million recorded in the prior-year quarter.
Engineering sales decreased from $565 million in the prior-year quarter to $517 million. Operating profit in the Engineering segment declined to $101 million from $114 million in the prior-year quarter.
LIN’s Backlogs
At the end of the first quarter, the company’s high-quality project backlog amounted to $10.1 billion, comprising a sale-of-gas backlog of $7.1 billion.
Linde’s Cash Generation Supports Shareholder Returns
Cash flow remained supportive of capital returns and investment priorities. First-quarter operating cash flow was $2.24 billion, up 4% from $2.16 billion in the prior-year quarter. Capital expenditures totaled $1.34 billion, resulting in free cash flow of $898 million.
Capital deployment was directed toward returning cash to shareholders alongside continued growth investment. During the quarter, Linde returned $1.55 billion through dividends and stock repurchases, net of issuances. The company has raised its dividend by 7% in 2026, marking 33 consecutive years of dividend increases.
LIN’s 2026 Guidance
Management’s near-term and full-year guidance remained centered on steady execution rather than a sharp demand rebound. For the second quarter of 2026, Linde expects EPS to be in the range of $4.40-$4.50, implying 8% to 10% growth versus the prior-year quarter, or 7% to 9% excluding an estimated 1% currency benefit.
For full-year 2026, EPS is expected to be in the range of $17.60-$17.90, suggesting 7-9% growth and assuming a 1% favorable currency impact.
Capital expenditures are expected to be between $5.0 billion and $5.5 billion, reflecting both maintenance needs and growth spending tied to the company’s contractual project pipeline.
LIN’s Zacks Rank & Key Picks
LIN currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials sector are Dow Inc. (DOW - Free Report) , CF Industries Holdings, Inc. (CF - Free Report) and Nutrien Ltd. (NTR - Free Report) . Both DOW and CF sport a Zacks Rank #1 (Strong Buy) at present, while NTR carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Dow reported a first-quarter 2026 loss of 14 cents per share, narrower than the Zacks Consensus Estimate of a loss of 39 cents.
As of March 31, 2026, DOW reported $4.1 billion in cash and cash equivalents. At the quarter's end, its long-term debt amounted to $17.3 billion.
CF Industries is the largest producer of ammonia globally. The company is scheduled to release first-quarter 2026 earnings on May 7. The Zacks Consensus Estimate for CF’s earnings is pegged at $2.35 per share, which implies an increase of 27% from the prior-year reported figure.
Nutrien, based in Canada, is a leading integrated provider of crop inputs and services. NTR is scheduled to release first-quarter 2026 earnings on May 6. The Zacks Consensus Estimate for NTR’s earnings is pegged at 48 cents per share, which implies an increase of 336.4% from the prior-year reported figure.