--- title: "Linde | 10-Q: FY2026 Q2 Revenue Beats Estimate at USD 9.289 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/294528760.md" datetime: "2026-07-31T14:43:13.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294528760.md) - [en](https://longbridge.com/en/news/294528760.md) - [zh-HK](https://longbridge.com/zh-HK/news/294528760.md) --- # Linde | 10-Q: FY2026 Q2 Revenue Beats Estimate at USD 9.289 B Revenue: As of FY2026 Q2, the actual value is USD 9.289 B, beating the estimate of USD 9.015 B. EPS: As of FY2026 Q2, the actual value is USD 4.15, beating the estimate of USD 4.1277. EBIT: As of FY2026 Q2, the actual value is USD 2.615 B. #### Consolidated Financial Performance **For the Quarter Ended June 30, 2026 vs. 2025 (Reported)** **Operating Profit**: Linde plc reported an operating profit of $2,554 million, an 8% increase from $2,354 million in the prior year, with an operating margin of 27.5% in 2026 compared to 27.7% in 2025. **Cost of Sales**: Cost of sales, exclusive of depreciation and amortization, increased by 13% to $4,861 million (52.3% of sales) from $4,306 million (50.7% of sales). **Selling, General and Administrative (SG&A)**: SG&A expenses increased by 2% to $891 million (9.6% of sales) from $870 million (10.2% of sales). **Depreciation and Amortization**: Depreciation and amortization increased by 2% to $963 million from $942 million. **Other Income (Expense) - Net**: Net other income was $17 million, up 13% from $15 million. **Interest Expense - Net**: Net interest expense decreased by -9% to $61 million from $67 million. **Net Pension and OPEB Cost (Benefit)**: A benefit of -$53 million was reported, a -10% decrease from -$59 million. **Income from Equity Investments**: Increased by 9% to $36 million from $33 million. **Noncontrolling Interests**: Increased by 10% to -$44 million from -$40 million. **Net Income – Linde plc**: Rose by 9% to $1,928 million from $1,766 million. **EBITDA**: Increased by 7% to $3,553 million from $3,329 million, representing 38.2% of sales compared to 39.2%. **For the Six Months Ended June 30, 2026 vs. 2025 (Reported)** **Operating Profit**: Operating profit was $4,993 million, a 10% increase from $4,538 million, with an operating margin of 27.6% in 2026 compared to 27.3% in 2025. **Cost of Sales**: Cost of sales, exclusive of depreciation and amortization, increased by 11% to $9,384 million (51.9% of sales) from $8,463 million (51.0% of sales). **Selling, General and Administrative (SG&A)**: SG&A expenses increased by 8% to $1,784 million (9.9% of sales) from $1,656 million (10.0% of sales). **Depreciation and Amortization**: Depreciation and amortization increased by 3% to $1,914 million from $1,852 million. **Cost Reduction Program and Other Charges**: $0 million in 2026 compared to $55 million in 2025. **Other Income (Expense) - Net**: Net other income was $80 million, a 142% increase from $33 million. **Interest Expense - Net**: Net interest expense decreased by -3% to $123 million from $127 million. **Net Pension and OPEB Cost (Benefit)**: A benefit of -$107 million was reported, a -7% decrease from -$115 million. **Income from Equity Investments**: Increased by 7% to $76 million from $71 million. **Noncontrolling Interests**: Increased by 18% to -$87 million from -$74 million. **Net Income – Linde plc**: Rose by 10% to $3,785 million from $3,439 million. **EBITDA**: Increased by 8% to $6,983 million from $6,461 million, representing 38.6% of sales compared to 38.9%. #### Segmented Sales and Operating Profit (Adjusted) **Quarter Ended June 30, 2026 vs. 2025** **Americas**: Sales increased by 7% to $4,083 million from $3,812 million. Operating profit increased by 5% to $1,272 million from $1,209 million, with an operating margin of 31.2% (2026) vs 31.7% (2025). **EMEA**: Sales increased by 7% to $2,303 million from $2,162 million. Operating profit increased by 6% to $823 million from $780 million, with an operating margin of 35.7% (2026) vs 36.1% (2025). **APAC**: Sales increased by 13% to $1,870 million from $1,655 million. Operating profit increased by 8% to $531 million from $490 million, with an operating margin of 28.4% (2026) vs 29.6% (2025). **Engineering**: Sales increased by 13% to $625 million from $551 million. Operating profit increased by 11% to $100 million from $90 million, with an operating margin of 16.0% (2026) vs 16.3% (2025). **Other**: Sales increased by 30% to $408 million from $315 million. Operating profit increased by 238% to $18 million from -$13 million, with an operating margin of 4.4% (2026) vs -4.1% (2025). **Six Months Ended June 30, 2026 vs. 2025** **Americas**: Sales increased by 8% to $8,108 million from $7,478 million. Operating profit increased by 8% to $2,544 million from $2,346 million, with an operating margin of 31.4% (2026) vs 31.4% (2025). **EMEA**: Sales increased by 7% to $4,474 million from $4,193 million. Operating profit increased by 7% to $1,607 million from $1,502 million, with an operating margin of 35.9% (2026) vs 35.8% (2025). **APAC**: Sales increased by 12% to $3,571 million from $3,194 million. Operating profit increased by 7% to $1,008 million from $941 million, with an operating margin of 28.2% (2026) vs 29.5% (2025). **Engineering**: Sales increased by 2% to $1,142 million from $1,116 million. Operating profit decreased by -1% to $201 million from $204 million, with an operating margin of 17.6% (2026) vs 18.3% (2025). **Other**: Sales increased by 24% to $775 million from $626 million. Operating profit increased by 1,300% to $14 million from $1 million, with an operating margin of 1.8% (2026) vs 0.2% (2025). #### Cash Flow Summary (Six Months Ended June 30, 2026 vs. 2025) - **Net Cash Provided by Operating Activities**: $4,511 million in 2026, an increase of 3% from $4,372 million in 2025, primarily due to higher net income. - **Net Cash Used for Investing Activities**: -$3,042 million in 2026, an increase of 8% from -$2,826 million in 2025, driven by higher capital expenditures and acquisitions. - **Capital Expenditures**: $2,780 million in 2026, $253 million higher than the prior year, primarily for new plant and production equipment. - **Acquisitions, Net of Cash Acquired**: $385 million in 2026, primarily in the Americas and EMEA, compared to $270 million in 2025. - **Divestitures, Net of Cash Divested and Asset Sales**: $123 million in 2026, including proceeds from a business sale in the Americas, compared to $24 million in 2025. - **Net Cash Used for Financing Activities**: -$1,647 million in 2026 compared to -$1,754 million in 2025. #### Other Key Metrics - **Sale of Gas Backlog**: As of June 30, 2026, Linde plc’s sale of gas backlog for large projects under construction was approximately $8.1 billion, with about half of the revenue related to minimum purchase requirements expected to be earned in the next six years. - **Pension Contributions**: Linde plc estimates 2026 required contributions to its pension plans will range from approximately $25 million to $35 million, with $18 million contributed through June 30, 2026. - **Debt**: Total debt was $28,013 million at June 30, 2026, compared to $26,989 million at December 31, 2025. Long-term debt was $20,678 million at June 30, 2026, compared to $20,683 million at December 31, 2025. - **Liquidity**: Linde plc maintains a $5.0 billion and a $1.5 billion unsecured and undrawn revolving credit agreement, with no outstanding borrowings as of June 30, 2026, indicating sufficient operating flexibility, cash, and funding sources. #### Outlook Linde plc provides quarterly updates on operating results, material trends, and financial guidance through quarterly earnings releases and investor teleconferences, which are available on the company’s website. ### Related Stocks - [LIN.US](https://longbridge.com/en/quote/LIN.US.md) ## Related News & Research - [Linde Stock: Is Wall Street Bullish or Bearish?](https://longbridge.com/en/news/295532511.md) - [Commerzbank Aktiengesellschaft FI Purchases Shares of 16,295 Linde PLC $LIN](https://longbridge.com/en/news/296195983.md) - [Wealth Science Advisors LLC Boosts Position in Linde PLC $LIN](https://longbridge.com/en/news/295322495.md) - [Linde PLC $LIN Shares Sold by California State Teachers Retirement System](https://longbridge.com/en/news/294173468.md) - [Linde Expands Renewable Energy Sourcing in its EMEA and APAC Regions | LIN Stock News](https://longbridge.com/en/news/293914616.md)