Linde (LIN) revenues in the third quarter amounted to 9.40 billion USD.

Quarterly results#

Earnings per share (GAAP) reached 3.66 USD, while earnings per share (adjusted) was 4.59 USD.

Company guidance#

The company expects adjusted earnings per share (non-GAAP) in the fourth quarter to be 4.40–4.50 USD (an increase of 5.0% – 7.0%), and for the full year 2026 to be 17.82–17.92 USD (an increase of 8.0% – 9.0%). Capital expenditures for the full year 2026 are expected to range from 5.50 billion USD to 6.00 billion USD.

Management commentary#

According to management, the European market remains stable, but they see no evidence for a return of growth in this region in the near future. Management emphasized that growth in the electronics sector results from organic demand and is confident about this trend in subsequent quarters. In the face of rising inflation, management indicated that price increases worldwide, including in China, remain a key point of focus. Management also noted that in the long term, there will be a helium surplus in the market, therefore the company is exercising caution when setting prices in long-term contracts.