Linde Q4 Earnings Beat on Higher Americas Pricing, Revenues Rise Y/Y

Linde plc LIN reported fourth-quarter 2025 adjusted earnings per share (EPS) of $4.20, which surpassed the Zacks Consensus Estimate of $4.18. The bottom line also improved from the year-ago quarter’s figure of $3.97.

Total quarterly revenues of $8,764 million surpassed the Zacks Consensus Estimate of $8,561 million. The top line also increased from the year-ago quarter’s level of $8,282 million.

The strong quarterly results can be attributed to higher pricing and increased volumes from the Americas segment.

Linde PLC Price, Consensus and EPS Surprise

Linde PLC price-consensus-eps-surprise-chart | Linde PLC Quote

LIN’s Segmental Highlights

The operating profit of Linde’s Americas segment increased 4.5% to $1,202 million from $1,150 million in the prior-year quarter. The Zacks Consensus Estimate for the same was pinned at $1,214 million. The segment was supported by higher pricing and increased volumes, primarily in the electronics end market.

Linde’s profit in the EMEA segment increased approximately 12.5% year over year to $772 million. Additionally, profit from this segment beat the Zacks Consensus Estimate of $739 million. The segment was aided by higher pricing, partially offset by lower volumes, primarily in the chemicals & energy end market.

The APAC segment's profit increased from $500 million a year ago to $502 million. The Zacks Consensus Estimate for the same was pegged at $497 million. The increase was driven by higher volumes, mainly in the electronics and chemicals & energy end markets.

Operating profit in the Engineering segment declined to $103 million from $106 million in the prior-year quarter. The reported figure surpassed the Zacks Consensus Estimate of $100 million.

LIN’s Backlogs

At the end of the fourth quarter, the company’s high-quality project backlog amounted to $10 billion, comprising a sale-of-gas backlog of $7.3 billion.

Linde’s Capital Investment & Balance Sheet

Linde reported capital expenditures of $1.46 billion for the fourth quarter. It ended the quarter with cash and cash equivalents of $5.1 billion and long-term debt of $20.7 billion.

LIN’s 2026 Guidance

For 2026, Linde estimates adjusted EPS to lie in the range of $17.40- $17.90. For the first quarter of 2026, it expects adjusted EPS to be in the range of $4.20- $4.30. The company announced its full-year capital expenditure guidance to be in the range of $5-$5.5 billion.

LIN’s Zacks Rank & Other Key Picks

LIN currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Some other stocks from the basic materials sector that are yet to report earnings are Coeur Mining, Inc. CDE, Kinross Gold Corporation KGC and Newmont Corporation NEM.

Coeur Mining, Inc. primarily produces gold and silver and owns precious metal mines across the United States, Canada and Mexico. CDE is scheduled to release fourth-quarter 2025 earnings on Feb. 18. The Zacks Consensus Estimate for earnings is pegged at 42 cents per share, which implies an increase of 281.2% from the prior-year reported figure. The company sports a Zacks Rank #1.

Kinross Gold Corporation is one of the top 10 gold mining companies in the world. The company is focused on the acquisition, exploration and development of gold mines primarily located in the United States, Brazil, Chile, Canada and Mauritania. Kinross is scheduled to release fourth-quarter 2025 earnings on Feb. 18. The Zacks Consensus Estimate for KGC’s earnings is pegged at 55 cents per share, indicating a 175% increase from the prior-year reported figure. The company currently carries a Zacks Rank #3 (Hold). 

Newmont Corporation is one of the largest producers of gold globally and operates several mines in Nevada, Peru, Australia and Ghana. NEM is scheduled to release fourth-quarter 2025 earnings on Feb. 19. The Zacks Consensus Estimate for earnings is pegged at $1.78 per share, which implies an increase of 27.1% from the prior-year reported figure. The company carries a Zacks Rank #3.

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This article originally published on Zacks Investment Research (zacks.com).

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