EarningsQ2 2026 Earnings Report
MX:LIN1N Q2 2026 EPS Results
Actual EPS$81.02
Consensus EPS$80.81
Beat/MissBeat by +$0.22
One Year Ago EPS$73.64
MX:LIN1N Q2 2026 Revenue Results
Actual Revenue$167.25B
Expected Revenue$162.33B
Beat/MissBeat by +$4.92B
YoY Revenue Growth+9.35%
Earnings Announcement Details
QuarterQ2 2026
Date07/31/2026
TimeBefore Open
Conference CallFriday, July 31, 2026
MX:LIN1N Upcoming Earnings
Linde's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:LIN1N Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The quarter showed clear growth strength — record sales, record backlog, double-digit EPS growth, strong electronics momentum, and solid capital deployment — but was tempered by margin pressures (notably from the U.S. homecare business), mix dilution from hardgoods/equipment, helium dislocation costs, and some regional geopolitical impacts. Management has active remediation plans for margin issues, reaffirmed multi-year growth opportunities (electronics, commercial space), and provided constructive guidance, leading to cautious optimism.Company Guidance
Record Sales and EPS
Consolidated sales of $9.3 billion, up 9% year-over-year and 6% sequentially; GAAP EPS of $4.50, up ~10% versus prior year.
Record Project Backlog and Electronics Wins
Project backlog rose by $1.0 billion sequentially to a record $8.1 billion, including $1.0 billion of new electronics wins (noting additional ~$800 million Taiwan JV electronics investment not included in backlog).
Strong Underlying Volume and Pricing
Underlying sales rose ~4% year-over-year (split roughly between volume and price); pricing up ~2% year-over-year and sequential underlying sales +4% (3% volume, 1% price).
Electronics & Manufacturing Momentum
Electronics was the fastest-growing end market (about +18% year-over-year in Q2); manufacturing growth driven by the U.S. (including aerospace and construction/data-center activity) and APAC, with APAC volumes +6% for the quarter.
Project Startups and Future Investment
Expect to start >20 projects for the remainder of the year representing roughly $1.3 billion of investment; management expects sale-of-gas backlog to still finish the year in the '8 handle' despite these startups.
Capital Deployment and Cash Generation
Year-to-date deployment of ~$6.0 billion of capital, roughly split evenly between business investments and shareholder returns; available cash flow (operating cash flow less base CAPEX) remains healthy.
Guidance Raised/Confirmed
Q3 EPS guidance $4.45–$4.55 (6%–8% growth) and updated full-year EPS range $17.70–$17.90 (8%–9% growth excluding FX); Q2→Q3 midpoint EPS sequential increase ~ $0.05 ex-FX expected.
Helium Supply Management and Pricing Improvement
Management reported successful navigation of helium supply disruptions, contract wins with customers and strong price improvement; dollar contribution positive though dislocation costs are currently dilutive to margins.
Commercial Space Opportunity Progress
Reaffirmed the commercial space market opportunity (previously a ~$1 billion opportunity through 2030) remains on track, with activity contributing to demand and equipment/sale-of-plant discussions underway.
MX:LIN1N Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed