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LINDE PLC 8-K Report, Financial Results (Jul 31, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed July 31, 2026
Period End
July 31, 2026
Security
LIN
In the record · 2017–202610-K910-Q258-K80

LIN filed 9 annual reports (10-K), 25 quarterly reports (10-Q) and 80 current reports (8-K) between 2017 and 2026.

  1. Material agreement8-K · Sep ’19Sep ’19
  2. Leadership change8-K · Nov ’21Nov ’21
  3. Leadership change8-K · Sep ’25Sep ’25

01—Abstract

Summary

Summary of the 8-K filed July 31, 2026. Cited figures are marked; the original filing is the authoritative source.

Linde plc (Nasdaq: LIN) reported second-quarter 2026 results on July 31, 2026, delivering record sales and EPS.

Sales reached $9.3 billiona, up 9% year over year, with about 2 points from favorable currency and 1 point from acquisitions; underlying sales rose 4%, driven by 2% price and 2% volume, primarily in electronics, manufacturing and chemicals & energy. GAAP diluted EPS was $4.15, up 11%, and adjusted EPS, which excludes Linde AG purchase accounting impacts, was $4.50, up 10%. Adjusted operating margin was 29.5%, while GAAP operating margin of 27.5% declined 60 basis points as price and productivity gains were offset by cost inflation.

Cash generation was solid but less dramatic. Operating cash flow was $2.3 billionb, up 3%, and after $1.44 billion of capital expenditures, free cash flow was $833 million. Linde returned $1.59 billion to shareholders through dividends and net buybacks in the quarter.

Management highlighted a record $8.1 billionc sale-of-gas backlog after another long-term U.S. electronics supply contract, a Linde Engineering project backlog of $11 billion, and robust customer proposal activity, mainly in electronics. Guidance points to continued steady growth. Management expects Q3 2026 adjusted EPS of $4.45 to $4.55 (up 6% to 8%) and full-year 2026 adjusted EPS of $17.70 to $17.90 (up 8% to 9%, including about 1% favorable currency).

Full-year capital expenditures are projected at $5.5 to $6.0 billiond, including the contracted sale-of-gas project backlog. Investors should note that the results are non-GAAP adjusted in part, and that the filing directs readers to the risk factors in the 2025 Form 10-K.

02—Key points

Key Highlights

  1. Q2 2026 sales of $9.3 billion, up 9% YoY; underlying sales up 4% (2% price, 2% volume)
  2. GAAP diluted EPS of $4.15 (up 11%); adjusted EPS of $4.50 (up 10%)
  3. Operating profit of $2.55 billion (27.5% margin); adjusted operating profit of $2.74 billion (29.5% margin, up 7%)
  4. Operating cash flow of $2.27 billion (up 3%); free cash flow of $833 million after $1.44 billion capex
  5. Record $8.1 billion sale-of-gas backlog after a new long-term U.S. electronics supply contract; Linde Engineering project backlog of $3.0 billion for third parties
  6. FY2026 adjusted EPS guidance raised to a range of $17.70 to $17.90 (8% to 9% growth); Q3 guidance of $4.45 to $4.55
  7. Capital returned to shareholders of $1.59 billion in the quarter via dividends and net repurchases

03—Questions

Frequently Asked Questions

  1. How did Linde perform in Q2 2026 relative to the prior year?

    Sales rose 9% to $9.3 billion, though only 4% of that was underlying growth; the rest came from roughly 2 points of favorable currency and 1 point from acquisitions. GAAP EPS rose 11% to $4.15, and adjusted EPS rose 10% to $4.50.

  2. Why did GAAP operating margin decline even though profitability remained strong?

    Operating margin was 27.5%, 60 basis points lower than the prior year. Management attributed this to cost inflation outpacing the benefits of higher pricing and productivity. Adjusted operating margin was 29.5%.

  3. What is the outlook for the rest of 2026?

    Linde guided Q3 2026 adjusted EPS to $4.45 to $4.55 and full-year adjusted EPS to $17.70 to $17.90, representing 8% to 9% growth with about 1% favorable currency. Full-year capex is expected at $5.5 to $6.0 billion.

  4. What does the $8.1 billion sale-of-gas backlog mean for investors?

    It is a record contracted backlog of long-term industrial gas supply projects, which supports visibility into future cash flows. Some of the 2026 capex guidance relates to building these projects, so near-term free cash flow may be pressured while the backlog is being built out.

  5. Are there any caveats to the reported results?

    Adjusted figures exclude items such as Linde AG purchase accounting impacts and cost reduction charges, and adjusted EPS guidance is non-GAAP with no GAAP reconciliation provided. The filing also refers investors to the risk factors in Linde's 2025 Form 10-K.

04—Continue

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