Linde Tops Q2 Estimates and Lifts Full-Year Outlook, Backed by Record Backlog
LIN sits 28% above its 52-week low of $387.78.
Summary
Linde posted Q2 2026 adjusted EPS of $4.50, beating estimates, and raised full-year guidance to $17.70–$17.90. A record $8.1 billion project backlog underpins future growth.
Key Events · Earnings and Guidance · LIN
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Q2 Earnings Beat
Adjusted EPS of $4.50 exceeded the $4.48 consensus, while sales rose 9% to $9.3 billion, driven by 4% underlying growth.
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Full-Year Guidance Raised
Full-year 2026 adjusted EPS guidance was lifted to $17.70–$17.90, representing 8–9% growth, with Q3 guidance set at $4.45–$4.55.
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Record Project Backlog
The sale-of-gas backlog hit a record $8.1 billion after signing a new long-term electronics supply contract, supporting future capital deployment of $5.5–$6.0 billion.
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Strong Cash Generation
Operating cash flow of $2.3 billion, up 3% year-over-year, funded $1.6 billion in shareholder returns—via dividends and buybacks—and $1.4 billion in capex.
Analysis · LIN · Industrial Applications And Services
A strong quarter saw adjusted EPS of $4.50, edging past the $4.48 consensus, while the lower end of full-year 2026 adjusted EPS guidance was raised to $17.70–$17.90, implying 8–9% growth. The record $8.1 billion sale-of-gas backlog, fueled by a new long-term electronics supply contract, provides multi-year revenue visibility. With operating cash flow of $2.3 billion and industry-leading margins, the company is well positioned to fund growth and return capital to shareholders.
At the time of this filing, LIN was trading at $498.03 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $235.3B. The 52-week trading range was $387.78 to $548.20. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.