Linde Q3: Adjusted EPS $4.59, Sales $9.4B; $425M Restructuring Charge Hits GAAP
LIN sits 29% above its 52-week low of $387.78 on light trading volume (0.3× avg).
Summary
Linde posted Q3 adjusted EPS of $4.59 (+9%) on $9.4 billion of sales, while a $425 million restructuring charge pushed reported EPS down 11% to $3.66. The 10-Q also discloses a favorable October 15 arbitration award against Gazprom and $1.8 billion of remaining Russia-related contingent liabilities.
Key Events · Earnings and Guidance · LIN
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Q3 Adjusted EPS $4.59, Sales Up 9%
Sales of $9,404 million rose 9% on 3% price and 2% volume; adjusted operating profit of $2,763 million was 8% higher at a 29.4% margin.
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$425M Restructuring Charge Hits GAAP
Reported operating profit fell 9% to $2,150 million and reported EPS fell 11% to $3.66, driven by $200 million severance, $42 million other cost cuts and $183 million of non-cash charges mostly in U.S. homecare.
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Arbitration Win, $1.8B Russia Exposure
An October 15, 2026 SCC award requires Gazprom to pursue Amur GPP claims in arbitration and bars enforcement of the Russian judgment; $1.1 billion (RCA) and $0.7 billion (Amur) contingent liabilities remain.
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Buybacks Continue, $4.7B Authorized
Linde repurchased 1,941 thousand shares for about $953 million in Q3 at an average $491.05, leaving $4.7 billion authorized under the 2023 program.
Analysis · LIN · Industrial Applications And Services
Adjusted results were solid — EPS of $4.59, up 9%, on sales of $9,404 million, also up 9% — but a $425 million cost reduction program charge dragged down the quarter's GAAP numbers, cutting reported operating profit 9% to $2,150 million and reported EPS 11% to $3.66. The charge breaks down into $200 million of global severance, $42 million of other cost reduction costs and $183 million of non-cash charges mostly tied to the U.S. homecare business, which the company also moved out of the Americas segment into Other. On the legal side, an October 15, 2026 Stockholm arbitration award went Linde's way against Gazprom on the Amur GPP dispute, though $1.8 billion of combined Russia-related contingent liabilities ($1.1 billion RCA, $0.7 billion Amur) remain outstanding. Buybacks continued at pace — 1.9 million shares for about $953 million in the quarter, with $4.7 billion left on the 2023 authorization.
How filings like this one have moved
In the 30 days to Oct 29, 2026, 30.9% of the 1649 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.02%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, LIN was trading at $502.08 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $231.4B. The 52-week trading range was $387.78 to $548.20. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.