Updated Aug 6 at 2:17pm ET.
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Linde earned $4.50 per share on an adjusted basis, slightly ahead of what analysts expected. Total sales rose 9 percent to about $9.3 billion, driven by higher prices and more demand from electronics and manufacturing customers. The company also raised the bottom end of its full-year profit forecast, now expecting earnings per share to grow between 8 and 9 percent for 2026.
This result shows the strength of Linde's business model, where long-term contracts allow it to pass through costs while maintaining high profit margins. With a project backlog of $11 billion, the company has a clear path for growth as it builds out new gas plants for industrial customers.
See the full quarter, and how our tracked metrics did
Source: 8-K filing
Linde will spend $1 billion to expand its gas production site in Phoenix, Arizona. The investment supports a new long-term agreement to provide ultra-high-purity gases, which are essential for the delicate chemical processes used in making advanced semiconductors.
This is a significant win because it locks in a major customer for years to come. Chip manufacturing requires a constant, reliable stream of specialized gases, and by building its own plants right at the customer's site, Linde creates a relationship that is very difficult for competitors to displace.
Source: Reuters
The board approved a dividend of $1.60 per share for the third quarter. Shareholders who own the stock by September 3 will receive the payment on September 17. This is a routine part of Linde's plan to return cash to its owners.
Source: Business Wire
Linde signed six new power purchase agreements to buy renewable electricity for its facilities in Europe, Africa, and India. These deals help the company move toward its goal of using more low-carbon energy, which already makes up about half of its global electricity use. Since producing industrial gases requires a massive amount of electricity, securing long-term renewable power helps stabilize energy costs. It also makes Linde's products more attractive to customers who are trying to reduce their own environmental impact.
Source: Business Wire
Analysts recently adjusted their price targets following the company's second-quarter earnings report and new investment announcement. Most analysts are bullish, with 25 of 28 rating the stock a buy and an average target price 16% above today's price.
The company has a perfect record of beating analyst targets over the last two years. Management consistently sets a bar they can clear, which makes their forecasts feel reliable.
| Expectation | |
|---|---|
| EPS | $4.53 |
| Revenue | $9.11B |
