Linde (NASDAQ:LIN) Issues Quarterly Earnings Results

Linde (NASDAQ:LIN) announced its quarterly earnings data on Thursday. The basic materials company reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.02, FiscalAI reports. Linde had a return on equity of 19.38% and a net margin of 21.17%.The business had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.64 billion. During the same quarter last year, the business posted $3.97 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Linde updated its Q1 2026 guidance to 4.200-4.300 EPS and its FY 2026 guidance to 17.400-17.900 EPS.

Here are the key takeaways from Linde’s conference call:

• Linde reported record full‑year results — Q4 sales of $8.8 billion (+6%), a 29.5% Q4 operating margin, record EPS and operating cash flow, and returned more than $7 billion to shareholders (including $1.4 billion of buybacks in Q4).
• The company has a record backlog of $10 billion (excluding ~$500 million of space investments), with two‑thirds tied to contracted clean‑energy projects and a strong pipeline in advanced electronics fabs and space launches (company estimates ~65–75% share by launch).
• 2026 guidance is deliberately cautious — EPS range of $17.40–$17.90 (up 6–9%), anchored at 0% base volume and assuming a 1% FX tailwind (Q1 FX assumption of +3%), so outcomes depend heavily on macro and FX moves.
• Management initiated additional Q4 restructuring to align resources for uneven geographic growth; CFO expects cash payback similar to prior programs (roughly a two‑year payback) with most benefits hitting in the second half of 2026.
• Helium and rare‑gas dynamics were a meaningful drag (~1–2% EPS headwind in 2025) and helium remains long in the medium term, representing an ongoing downside risk to margins and earnings.

Linde Stock Performance

Shares of NASDAQ LIN traded down $13.52 during midday trading on Thursday, hitting $459.81. 1,828,091 shares of the company’s stock were exchanged, compared to its average volume of 2,405,119. Linde has a twelve month low of $387.78 and a twelve month high of $486.38. The firm has a market cap of $214.71 billion, a P/E ratio of 30.82, a PEG ratio of 3.25 and a beta of 0.84. The stock’s 50 day moving average price is $429.29 and its 200-day moving average price is $447.90. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.82 and a quick ratio of 0.69.

Hedge Funds Weigh In On Linde

Hedge funds have recently modified their holdings of the stock. State Street Corp raised its position in Linde by 0.9% during the third quarter. State Street Corp now owns 19,319,583 shares of the basic materials company’s stock valued at $9,176,828,000 after buying an additional 172,162 shares during the period. Lazard Asset Management LLC bought a new position in Linde during the third quarter valued at approximately $453,274,000. Alliancebernstein L.P. lifted its stake in shares of Linde by 0.3% in the 2nd quarter. Alliancebernstein L.P. now owns 935,161 shares of the basic materials company’s stock valued at $438,759,000 after purchasing an additional 2,386 shares during the last quarter. Raymond James Financial Inc. boosted its stake in shares of Linde by 1.2% during the 3rd quarter. Raymond James Financial Inc. now owns 763,747 shares of the basic materials company’s stock worth $362,781,000 after acquiring an additional 9,419 shares in the last quarter. Finally, Corient Private Wealth LLC grew its holdings in Linde by 10.1% during the second quarter. Corient Private Wealth LLC now owns 697,520 shares of the basic materials company’s stock valued at $327,254,000 after purchasing an additional 64,043 shares during the last quarter. 82.80% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Linde

Here are the key news stories impacting Linde this week:

• Positive Sentiment: Linde beat Q4 EPS and revenue estimates, driven by higher Americas pricing and stronger volumes; adjusted EPS rose ~6% year-over-year. Zacks: Surpasses Q4 Estimates
• Positive Sentiment: Zacks highlights that segment profits rose across regions and that Americas pricing materially contributed to the beat, supporting the company’s underlying margins. Zacks: Americas Pricing Lift
• Neutral Sentiment: Linde’s official release shows adjusted results up while GAAP net income and diluted EPS declined (purchase accounting and charges); adjusted metrics improved but the GAAP picture tempers the beat. BusinessWire: Q4 & Full-Year Results
• Neutral Sentiment: Linde issued Q1 2026 EPS guidance of $4.20–4.30 and FY 2026 guidance of $17.40–17.90, essentially in line with consensus — supportive of stability but not a beat that would drive re-rating. MarketBeat: Guidance & Materials
• Negative Sentiment: An analyst piece (Seeking Alpha) kept a “Hold,” lowered the price target and warned the December buying opportunity was missed — signaling limited near-term upside and contributing to selling pressure. Seeking Alpha: Hold, PT Cut

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LIN shares. JPMorgan Chase & Co. reduced their price objective on shares of Linde from $475.00 to $455.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. Sanford C. Bernstein reissued an “outperform” rating and issued a $516.00 price target on shares of Linde in a report on Monday, November 3rd. BMO Capital Markets set a $501.00 price objective on shares of Linde in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Linde in a research note on Monday, December 29th. Finally, Citigroup boosted their price objective on shares of Linde from $520.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $501.75.

Linde Company Profile

Linde (NASDAQ: LIN) is a multinational industrial gases and engineering company that supplies gases, related technologies and services to a wide range of industries. The company traces its current form to the 2018 combination of Germany’s Linde AG and U.S.-based Praxair, creating one of the largest global providers of industrial, specialty and medical gases. Linde’s business model centers on production, processing and distribution of gases as well as the design and construction of the plants and equipment needed to produce them.

Core products and services include atmospheric and process gases such as oxygen, nitrogen and argon; hydrogen and helium; carbon dioxide; and a portfolio of higher‑value specialty and electronic gases.