Key takeaways
- Linde (NASDAQ:LIN) reported strong third-quarter 2026 results, surpassing analyst expectations for both adjusted earnings per share and revenue.
- The industrial gases giant raised its full-year 2026 adjusted earnings outlook, projecting growth of 8% to 9%, excluding currency impacts.
- While adjusted profits saw significant increases, reported net income and diluted earnings per share declined, highlighting the impact of specific accounting adjustments.
Linde (NASDAQ:LIN) supplies industrial gases used in manufacturing, health care, and other industries. It reports third-quarter 2026 results before the market opens on October 29. Adjusted earnings per share reached $4.59, above the $4.52 estimate, while revenue reached $9.40 billion, above the $9.16 billion estimate.
Sales rose 9% from a year earlier. Linde also raised its full-year outlook: it now expects adjusted earnings to grow 8% to 9% in 2026, excluding currency headwinds, as highlighted by Reuters. Currency headwinds are losses caused by exchange-rate changes when overseas earnings are converted into dollars.
The adjusted profit figure differs from Linde’s reported profit. Net income fell 12% to $1.69 billion, and diluted earnings per share declined 11% to $3.66. Adjusted net income, which excludes specified accounting impacts and charges, rose 7% to $2.12 billion. Adjusted diluted earnings per share increased 9% to $4.59.
Linde’s trailing-twelve-month price-to-earnings ratio is 32.66, meaning its share price is 32.66 times its earnings per share over the past year. Its price-to-sales ratio is 6.61, and its earnings yield—the inverse of its price-to-earnings ratio—is 3.08%.
Linde’s enterprise value-to-sales ratio is 7.26, and its enterprise value-to-operating-cash-flow ratio is 24.54. Enterprise value includes debt as well as the market value of its shares. Its debt-to-equity ratio is 0.72, while its current ratio is 0.88, meaning current assets are less than current liabilities.
