10-QPeriod: Q1 FY2026

LINDE PLC Quarterly Report for Q1 Ended Mar 31, 2026

Filed May 1, 2026For Securities:LIN

Summary

Linde plc reported strong first-quarter 2026 results, with consolidated sales increasing by 8% year-over-year to $8,781 million. This growth was primarily driven by favorable currency translations (5%), higher pricing (2%), and contributions from new project start-ups and acquisitions (1% each). The company's operating profit also saw a significant increase of 12% on a reported basis, reaching $2,439 million, with an operating margin of 27.8%. On an adjusted basis, which excludes non-recurring items like merger purchase accounting impacts and cost reduction charges, operating profit grew 8% to $2,630 million, with an adjusted operating margin of 30.0%. Diluted earnings per share (EPS) also showed robust growth, increasing 13% to $3.98 on a reported basis and 10% to $4.33 on an adjusted basis. The company continues to invest in capital expenditures, with $1,342 million allocated to new plant and production equipment, underscoring a commitment to future growth. Linde also maintained its share repurchase program, demonstrating a balanced approach to capital allocation.

Financial Highlights

51 data points
Beta

Revenue

$8.78B

Net Income

$1.86B

21.1% Net Margin

EPS (Diluted)

$3.98

Total Assets

$86.31B

Cash & Equivalents

$3.96B

Free Cash Flow

$898.00M

Financial Statements
Beta
Revenue$8.78B
R&D Expenses$38.00M
SG&A Expenses$893.00M
Operating Income$2.44B
Net Income$1.86B
EPS (Basic)$4.00
EPS (Diluted)$3.98
Shares Outstanding (Basic)464.05M
Shares Outstanding (Diluted)466.32M

Key Highlights

  • 1Consolidated sales grew 8% to $8,781 million, driven by currency (5%), price (2%), and volume (1%) factors.
  • 2Reported operating profit increased 12% to $2,439 million, with an operating margin of 27.8%.
  • 3Adjusted operating profit rose 8% to $2,630 million, maintaining a strong adjusted operating margin of 30.0%.
  • 4Reported diluted EPS increased 13% to $3.98, while adjusted diluted EPS grew 10% to $4.33.
  • 5Capital expenditures were $1,342 million, up from the prior year, primarily for new plant and production equipment.
  • 6The Americas segment showed strong sales growth of 10%, while EMEA and APAC segments also posted positive sales growth of 7% and 11% respectively.
  • 7Linde continues to execute its share repurchase program, with $6.5 billion remaining authorization as of March 31, 2026.

Frequently Asked Questions

Linde's sales growth of 8% was primarily driven by favorable currency translations, which contributed 5%, followed by higher pricing (2%), and contributions from new project start-ups and acquisitions (1% each). Volumes also increased by 1%.

On a reported basis, operating profit increased by 12% to $2,439 million, with an operating margin of 27.8%. On an adjusted basis, excluding certain non-recurring items, operating profit grew by 8% to $2,630 million, with an adjusted operating margin of 30.0%. Diluted EPS also showed strong growth, up 13% reported and 10% adjusted.

Linde invested $1,342 million in capital expenditures during the quarter, a 1% increase from the prior year, primarily for new plant and production equipment to support backlog growth. The company also continued its share repurchase program, with approximately $6.5 billion remaining authorization as of March 31, 2026, indicating a continued focus on returning capital to shareholders.

Currency movements had a significant positive impact on Linde's results. Currency translation increased sales by 5% and contributed to higher operating profit. The strengthening of currencies like the Euro, British Pound, Mexican Peso, Brazilian Real, Australian Dollar, and Chinese Yuan against the U.S. Dollar were key drivers.