LIN
Linde plc423.51
+6.52+1.56%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Regional splits, backlog refill plans
Q&A fleshed out uneven recovery: Europe mired in broad weakness sans catalysts, China merchant bottoming above IP growth, US resilient yet consumables flat despite automation uptick. Backlog shrinks $2.5-3B on OCI Woodside startups before refilling to $7B via fab wins. Restructuring yields structural savings, beating 30-50bps margin expansion. Space CapEx adds double-digit secular lift, not in backlog. Europe drags; investors eye volume inflection. Guarded tone prevails.
Key Stats
Market Cap
198.59BP/E (TTM)
28.33Basic EPS (TTM)
14.95Dividend Yield
0.01%Recent Filings
10-K
FY2025 results
Linde's FY2025 sales hit $33.99B, up 3% y/y from $33.01B, with adjusted operating profit climbing 4% to $10.14B as pricing gains and productivity offset inflation. Americas led with 5% sales growth to $15.21B and 4% operating profit rise, fueled by 3% price/mix and 1% volumes in electronics and chemicals; EMEA surged 10% in profit to $3.06B despite volume dips, while APAC held steady. Q4 accelerated share repurchases at 3.3M shares for $1.4B under the $15B program, leaving $7.3B authorized, alongside $5.06B cash and $5.3B capex. Net debt rose to $21.93B at 2.3% cost. Weakening economic conditions threaten demand in cyclical end-markets.
8-K
Linde's strong Q4, 2026 guidance
Linde plc reported Q4 2025 sales of $8.8 billion, up 6% YoY with underlying growth of 3% from pricing and volumes; adjusted operating profit hit $2.6 billion, margins at 29.5%. Full-year sales reached $34.0 billion, adjusted EPS $16.46 up 6%, with $10.4 billion operating cash flow fueling $7.4 billion shareholder returns. Cash flow topped $10 billion. 2026 adjusted EPS guides $17.40-$17.90, yet macro risks loom.
8-K
Linde inks $1.5B 364-day revolver
Linde plc entered an unsecured $1.5B 364-day revolving credit agreement on December 3, 2025, with Bank of America as agent and a lender syndicate; initial borrowers include Linde Inc., Linde GmbH, and Linde Finance B.V., backed by Company guarantees. Available for general corporate purposes in USD, GBP, EUR, and agreed currencies, it carries no financial maintenance covenants and expires December 2, 2026, with a term-out option. No usage outstanding.
8-K
Linde issues €1.75B notes
Linde plc issued €600M floating rate notes due 2027, €650M 3.125% notes due 2032, and €500M 3.750% notes due 2038 on November 20, 2025, under its €20B Euro debt program. Net proceeds of ~€1,737M target general corporate purposes. Notes listed on Luxembourg Stock Exchange. Guaranteed by key subsidiaries.
10-Q
Q3 FY2025 results
Linde posted Q3 sales of $8,615M, up 3% y/y from $8,356M, with operating profit jumping 13% y/y to $2,367M at 27.5% margin, fueled by higher pricing and a $156M cost reduction benefit versus $145M charges last year. Diluted EPS rose 27% y/y to $4.09 on fewer shares (471.5M vs 480.9M). Cash swelled to $4,509M despite $3.8B capex; total debt climbed to $25.9B (short-term $5.0B, long-term $18.6B) after issuances, with $6.5B revolver capacity untapped. Free cash flow not disclosed in the 10-Q. Share buybacks totaled $3.2B YTD. Russian contract disputes pose ongoing legal risks.
IPO
Website
Employees
Sector
Industry
AIQUF
L'Air Liquide SA
186.71-0.01
APD
Air Products and Chemicals, Inc
242.25-2.76
GTLS
Chart Industries, Inc.
205.71-0.23
HGAS
Global Gas Corporation
0.06-0.00
LXFR
Luxfer Holdings PLC
13.65-0.08
LXU
LSB Industries, Inc.
8.77-0.11
LYB
LyondellBasell Industries NV
42.98-0.36
MBGCF
MITSUBISHI GAS CHEMICAL CO INC
16.86+0.00
OLN
Olin Corporation
20.42-1.10
SINC
Sincerity Applied Materials Hol
7.86-0.04