Linde PLC

Latest Results (20.10.2025):

Linde PLC reported strong financial performance for the second quarter of 2025, demonstrating resilience and growth despite a muted industrial economy. The company achieved a 3% year-over-year increase in sales and an 8% rise in earnings per share, supported by improved operating margins and robust cash flow generation.

Sales Growth

Second-quarter sales reached $8.5 billion, marking a 3% increase compared to the same period last year. Underlying sales also rose by 1%, driven by a 2% increase in pricing, partially offset by a 1% decline in volumes due to lower demand in the manufacturing sector.

Enhanced Profitability

Operating profit stood at $2.4 billion, with adjusted operating profit increasing by 6% to $2.6 billion. The operating profit margin expanded to 27.7%, while the adjusted margin improved significantly by 80 basis points to 30.1%.

Earnings Per Share

Earnings per share (EPS) were $3.73, reflecting an 8% growth year-over-year. Adjusted EPS reached $4.09, up by 6%, highlighting the company’s effective cost management and productivity initiatives.

Strong Cash Flow

Operating cash flow for the second quarter was $2.2 billion, a 15% increase from the previous year. After capital expenditures of $1.257 billion, free cash flow amounted to $954 million, enabling the company to return $1.811 billion to shareholders through dividends and stock repurchases.

Positive Guidance

Linde PLC provided a full-year 2025 adjusted EPS guidance of $16.30 to $16.50, representing a 5% to 6% increase, or 4% to 5% excluding foreign exchange impacts. The company remains confident in its growth prospects, supported by a $7.1 billion backlog of gas sales projects.