LIN Linde (LIN) Q2 FY26 earnings call
Linde delivered record sales and EPS in Q2 FY26, fueled by strong electronics demand and significant backlog additions. While the core industrial gas business performed well, margin performance was impacted by the U.S. home care business and mix effects from equipment sales. Management is actively addressing these challenges and expects sequential improvement, maintaining a robust long-term growth outlook.
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LIN operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Sep 2025 Q3 FY25 | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|
| Backlog | $10B+The year ended with more than $10 billion in backlog, including a record sale of gas backlog of $7 billion.Source: earnings call transcript | $10BThe quarter ended with a strong backlog of $10 billion of which more than $7 billion is sale of gas projects, all underpinned by long-term contracts with secured returns driving future growth.Source: earnings call transcript | $10BThe backlog remains at $10 billion, contractually securing long-term EPS growth while increasing our network density.Source: earnings call transcript | — | $8.1BDuring the second quarter, we achieved record sales and EPS levels with both growing at near double-digit percent, while increasing the backlog by $1 billion to a record $8.1 billion, after securing a new electronic spin in the US In addition, the backlog project pipeline remains healthy, but still new project opportunities under development.Source: earnings call transcript | — |
| Backlog Sale of gas | $7BThe year ended with more than $10 billion in backlog, including a record sale of gas backlog of $7 billion.Source: earnings call transcript | $7B+The quarter ended with a strong backlog of $10 billion of which more than $7 billion is sale of gas projects, all underpinned by long-term contracts with secured returns driving future growth.Source: earnings call transcript | — | $7.1BFurthermore, we signed 5 new projects that added $100 million to the sale of gas backlog, which ended the quarter at $7.1 billion.Source: earnings call transcript | $8.1BWhen considering the record $8.1 billion sale of gas backlog continued roll-up acquisition targets and project pipeline opportunities, we expect this number to remain a significant use of capital for the foreseeable future.Source: earnings call transcript | +14.1% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.