Linde Q1 revenue beats estimates on pricing and volume

Linde

01/05/2026 10:40

Overview

Industrial gases firm's Q1 revenue rose 8% yr/yr, beating analyst expectations

Adjusted EPS for Q1 up 10%, beating analyst expectations

Growth driven by higher pricing, productivity, and favorable currency impact

Outlook

Linde expects Q2 2026 adjusted EPS of $4.40-$4.50, up 8%-10% YoY

Company sees full-year 2026 adjusted EPS of $17.60-$17.90, up 7%-9%

Linde expects 2026 capital expenditures of $5.0-$5.5 bln to support growth and maintenance

Result Drivers

PRICING AND VOLUME - Underlying sales rose 3%, driven by 2% higher pricing and 1% higher volumes, mainly from project start-ups

FAVORABLE CURRENCY - Reported sales benefited from a 5% positive currency impact

PRODUCTIVITY INITIATIVES - Adjusted operating profit growth was led by higher price and continued productivity initiatives across all segments

Company press release: ID:nEQ4TKh3fa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$8.80 bln
$8.58 bln (13 Analysts)
Q1 Adjusted EPS
Beat
$4.33
$4.26 (16 Analysts)
Q1 EPS
$3.98
Q1 Adjusted EBIT
Slight Beat*
$2.60 bln
$2.58 bln (11 Analysts)
Q1 EBIT
$2.40 bln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 21 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the commodity chemicals peer group is "buy"

Wall Street's median 12-month price target for Linde PLC is $535.00, about 6.8% above its April 30 closing price of $501.14

The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 26 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)