Linde reported $8.1 billion in first-quarter sales, with strong performance in the Americas region.

Linde announced its Q1 2025 financial results, achieving $8.1 billion in sales, $1.7 billion in net income, and $2.2 billion in operating profit. Sales were flat year-on-year, while net income rose 3%. Q1 sales totaled $8.112 billion, unchanged from the prior year. Although prices increased by 2%, volume declined by 1% in manufacturing and metal & mining end markets, resulting in a 1% year-on-year increase in underlying sales. Q1 net income amounted to $1.673 billion, with diluted earnings per share (EPS) of $3.51—up 3% and 5%, respectively. Q1 operating profit was $2.184 billion; adjusted operating profit rose 4% year-on-year to $2.438 billion, driven by price increases and ongoing productivity initiatives across all divisions. Adjusted operating margin stood at 30.1%, up 120 basis points versus the prior year. Strong Q1 performance in the Americas region By region, the Americas delivered robust results in Q1, with sales up 3% year-on-year; sales in Asia Pacific declined 1%, and sales in Europe, Middle East & Africa fell 3%. Americas region sales reached $3.666 billion, up 3% year-on-year. Underlying sales grew 4% year-on-year, supported by a 3% price increase and a 1% volume gain—primarily in electronics, chemicals, and energy end markets. Operating profit totaled $1.137 billion, representing 31.0% of sales—40 basis points higher than last year. Asia Pacific sales amounted to $1.539 billion, down 3% year-on-year. Underlying sales declined 1% year-on-year: prices remained stable, but volumes fell 1%, mainly in metal, mining, and manufacturing end markets.

Linde announced its third-quarter 2025 results, demonstrating resilient and steady growth.

Linde Group announced its Q3 2025 financial results. Despite generally weak industrial activity, the company achieved steady growth and set new records for operational performance. In Q3, Linde’s sales reached $8.615 billion, up 3% year-on-year; adjusted operating profit totaled $2.558 billion, up 3% year-on-year, with an adjusted operating margin of 29.7%—0.1 percentage point higher than the prior year; quarterly net income amounted to $1.929 billion, up 24% year-on-year. Operating cash flow for the quarter totaled $2.948 billion, up 8% year-on-year. After $1.276 billion in capital expenditures, free cash flow stood at $1.672 billion. The company returned $1.685 billion to shareholders during the quarter via dividends and share repurchases (net of issuances). Sanjiv Lamba, Linde’s CEO, stated: “Despite persistently low industrial demand, the Linde team delivered an 8% increase in operating cash flow and a record EPS of $4.21, while maintaining industry-leading margins and returns on capital.” He noted that although the company remains cautious about near-term industrial recovery, its consistently disciplined capital allocation policy and prudent investment strategy will continue to create long-term value for shareholders. Per company guidance, Linde expects adjusted EPS for Q4 2025 to range between $4.10 and $4.20—a 3% to 6% increase year-on-year—and full-year adjusted EPS to be $16.35 to $16.45, up 5% to 6% year-on-year. Full-year capital expenditures are projected at $5.0–$5.5 billion to support business growth and a backlog of approximately $7.1 billion in contract-based gas supply projects.

Linde plc earns fresh Citi backing, shares with higher target into July earnings

Jun 25, 2026

Citi raised its price target for Linde plc to $600, maintaining a 'Buy' rating ahead of July earnings. The move reflects analyst confidence in the industrial gas group's high-margin business model and strong cash flow performance.

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