Finance
Linde sees another year of steady growth as Q4 results beat forecasts
Published by Global Banking & Finance Review®
Posted on February 5, 2026
2 min readLast updated: February 5, 2026
Quick Summary
Linde's Q4 earnings exceeded expectations, driven by higher pricing and productivity, with EPS rising 6% to $4.20, surpassing analyst estimates.
Linde Reports Strong Q4 Results and Projects Continued Growth for 2026
Linde's Financial Performance and Future Outlook
By Bartosz Dabrowski
Fourth Quarter Results
Feb 5 (Reuters) - Linde, the world's largest industrial gases company, on Thursday beat expectations for fourth-quarter results and said it expected earnings to keep growing in 2026, citing higher pricing and productivity initiatives across business areas.
Earnings Forecast for 2026
The U.S.-German company is seen as a bellwether for industrial production as it supplies gases for a wide range of customers in industries such as chemicals, manufacturing, steel-making, and food and beverages.
Impact of Currency Exchange Rates
Linde reported a 6% rise in its adjusted earnings per share to $4.20 in the October-December period, ahead of analysts' mean estimate of $4.18 per share, according to LSEG data.
The supplier of gases such as oxygen, nitrogen and hydrogen to factories and hospitals has consistently beaten earnings estimates in recent years, thanks to its stable long-term industrial contracts, diverse customer base and growing hydrogen investments as countries look to cut back on emissions.
The company forecast growth of 5% to 8% in 2026 earnings per share, excluding negative currency exchange effects. For the first quarter, Linde sees growth of 3-6% on the same basis.
Exchange rates will have a bigger impact in the first three months of the year, before easing in later quarters, it said.
Linde's total sales grew 6% to $8.76 billion in the fourth quarter, against analysts' average forecast of $8.64 billion.
(Reporting by Bartosz Dabrowski in Gdansk, editing by Milla Nissi-Prussak)
Key Takeaways
- •Linde reported Q4 earnings above expectations.
- •Earnings per share rose 6% to $4.20.
- •Higher pricing and productivity drove results.
- •Analysts estimated earnings at $4.18 per share.
- •Linde is the world's largest industrial gases company.
Frequently Asked Questions about Linde sees another year of steady growth as Q4 results beat forecasts
1What is adjusted earnings per share?
Adjusted earnings per share (EPS) is a financial metric that indicates a company's profitability on a per-share basis, excluding certain one-time items or expenses that may distort the true earnings picture.
2What are productivity initiatives?
Productivity initiatives are strategies or programs implemented by a company to improve efficiency, reduce costs, and enhance overall performance across its operations.
