LINDE (LIN) Company Report

Linde PLC and certain subsidiaries entered into an unsecured $1.5 billion 364-day revolving credit agreement with Bank of America, N.A. as administrative agent and a syndicate of lenders, maturing December 3, 2026.
Initial borrowers are Linde PLC, Linde Inc., Linde GmbH and Linde Finance B.V., with additional subsidiaries eligible to join subject to customary conditions.
The facility includes $50 million USD and €25 million swingline commitments, available for general corporate purposes.
Loans bear interest based on SOFR, EURIBOR, SONIA or base rate plus a ratings-based margin, and the agreement contains no financial maintenance covenant.
As of the signing date, there were no outstanding borrowings under the new credit agreement.

1 day ago

8-K

Linde plc issues €1.75 billion notes under debt programme

LIN

Debt Issuance

On November 20, 2025, Linde plc issued €600 million floating-rate notes due November 2027, €650 million 3.125% notes due November 2032 and €500 million 3.750% notes due November 2038 under its Euro debt issuance programme.
Net proceeds were approximately €1,737 million, before other fees and expenses, to be used for general corporate purposes.
The 2027 notes carry interest at 3-month EURIBOR + 22 bps, reset quarterly ; the 2032 notes pay a 3.125% coupon and the 2038 notes a 3.750% coupon.
These senior unsecured notes are guaranteed by Linde GmbH and Linde Inc. and were admitted to the official list of the Luxembourg Stock Exchange for trading on the Euro MTF market.

Nov 20, 2025, 9:01 PM

8-K

Linde: Saudi PIF Cuts U.S. Equity Holdings to $19.4B Ahead of Crown Prince DC Visit

LIN

New Projects/Investments

Saudi Arabia’s Public Investment Fund trimmed its U.S. equity portfolio to $19.4 billion by end-Q3 2023, marking an 18% quarter-over-quarter reduction and divesting from companies including Linde.
The PIF’s top U.S. stakes were in Uber ($7.1 billion), Electronic Arts ($5 billion) and Lucid Group ($4.2 billion) at quarter-end.
This reallocation aligns with Vision 2030, shifting focus to domestic investments, with $57 billion earmarked for 2024 and $70 billion post-2025 in local projects.

Nov 16, 2025, 6:45 AM

Bloomberg

Linde reports Q3 2025 earnings, updates 2025 guidance

LIN

Earnings

Guidance Update

M&A

Linde reported Q3 2025 sales of $8.62 billion, with net income up 24% to $1.93 billion and adjusted EPS of $4.21, above expectations.
The company projected 5–6% adjusted EPS growth for full-year 2025 to $16.35–$16.45 and issued Q4 EPS guidance of $4.10–$4.20.
Underlying sales fell 1% year-over-year due to stable volumes but pricing pressure mainly from helium.
Linde increased its stake in Dubai-based Airtec from 49% to over 90% in September 2025.

Oct 31, 2025, 5:10 PM

Morningstar

Linde announces Q3 2025 results

LIN

Earnings

Guidance Update

Demand Weakening

Third-quarter sales of $8.6 billion (+3% YoY) and EPS of $4.21 (+7%), with 8% growth in operating cash flow and $1.7 billion of free cash flow generated.
Fourth-quarter EPS guidance of $4.10–4.20 (3–6% growth) and full-year 2025 EPS outlook of $16.35–16.45 (5–6% growth).
Electronics end market up 6%, while industrial volumes remain weak—especially in Europe—offset by durable price gains and a robust project pipeline.
Record backlog of $10 billion, $4.2 billion invested in the business year-to-date, and $5.3 billion returned to shareholders.

Oct 31, 2025, 1:00 PM

Transcript

Linde announces Q3 2025 results

LIN

Earnings

Guidance Update

Linde PLC reported Q3 2025 adjusted sales of $8.615 billion (+3 % YoY) and adjusted operating profit of $2.558 billion (+3 % YoY), with record diluted EPS of $4.21 (+7 % YoY).
Operating cash flow reached $2.948 billion in Q3 (+8 % YoY) and capex was $1.276 billion; YTD through September, OCF totaled $2.9 billion and net share buybacks were $3.2 billion.
The company reaffirmed Q4 2025 guidance of adjusted EPS $4.10–$4.20 (+3–6 % YoY) and full-year 2025 adjusted EPS $16.35–$16.45 (+5–6 % YoY), with capex of $5.0–$5.5 billion.

Oct 31, 2025, 1:00 PM

Presentation

Linde reports Q3 2025 results

LIN

Earnings

Guidance Update

Linde delivered $8.6 billion in Q3 sales, up 3% year-over-year, and reported EPS of $4.21, a 7% increase versus prior year.
Operating cash flow rose 8% to $2.9 billion, generating $1.7 billion of free cash flow; the company’s backlog stands at $10 billion, underpinning future growth.
Consumer and electronics end markets remained resilient—electronics grew 6%—while European industrial volumes were weak; U.S. package gas showed mid-single digit organic growth.
Q4 EPS guidance is $4.10 to $4.20 (3–6% growth), and full-year EPS is forecast at $16.35 to $16.45 (5–6% growth), reflecting a modest FX tailwind and tax headwind.

Oct 31, 2025, 1:00 PM

Transcript

Linde reports Q3 2025 results

LIN

Earnings

Guidance Update

Demand Weakening

Sales of $8.6 billion, up 3% year-over-year (2% underlying) driven by broad-based 2% price increases, with flat volumes; FX tailwind +1%, tuck-in acquisitions +1%, and a 1% drag from project timing.
EPS of $4.21, up 7% year-over-year (4% above operating profit) reflecting pricing, lower share count, and favorable tax timing; full-year effective tax rate expected in the mid- to high-23% range.
Operating cash flow of $2.9 billion, up 8% year-over-year; year-to-date capital deployment includes $4.2 billion invested and $5.3 billion returned to shareholders.
Q4 EPS guidance of $4.10–$4.20 (3–6% growth), assuming a 2% FX tailwind offset by a roughly 2% tax headwind; full-year EPS target of $16.35–$16.45 (5–6% growth).

Oct 31, 2025, 1:00 PM

Transcript

Linde plc reports Q3 2025 results

LIN

Earnings

Guidance Update

Dividends

Linde reported Q3 2025 sales of $8.6 billion (up 3% YoY), with adjusted operating profit of $2.558 billion (up 3%) and an adjusted margin of 29.7% (up 10 bps).
GAAP EPS was $4.09 (up 27%) and adjusted EPS was $4.21 (up 7%).
Operating cash flow reached $2.948 billion (up 8%), yielding free cash flow of $1.672 billion; the company returned $1.685 billion to shareholders via dividends and repurchases.
The company issued Q4 2025 adjusted EPS guidance of $4.10–$4.20 (up 3%–6%) and full-year 2025 guidance of $16.35–$16.45 (up 5%–6%).

Oct 31, 2025, 10:45 AM

8-K

Linde commissions world-scale helium storage cavern

LIN

New Projects/Investments

Linde commissioned one of the world’s largest helium storage caverns in Beaumont, Texas, with a capacity of over three billion cubic feet.
The facility is one of only three helium salt caverns globally, enhancing Linde’s ability to balance supply–demand cycles in the helium market.
This investment strengthens Linde’s proprietary helium infrastructure and supports critical industries like semiconductors, aerospace, and medical imaging.
Linde reported 2024 sales of $33 billion, underscoring its scale in industrial gases and engineering solutions.

Jul 30, 2025, 10:00 AM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for LINDE.

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