Linde Q2 2026 Performance and Phoenix Investment
Linde announced that its second‑quarter 2026 sales reached $9.3 billion, representing a 9% year‑over‑year increase and surpassing analysts' consensus estimate of $9.01 billion. Underlying sales grew 4% on a comparable‑basis. Adjusted operating profit climbed 7% to $2.7 billion, yielding an adjusted operating margin of 29.5%. Adjusted earnings per share were $4.50, up 10% from the prior year.
For the third quarter, Linde projected adjusted diluted earnings per share in the range of $4.45 to $4.55, implying a 6% to 8% increase versus the same quarter last year, with no anticipated impact from currency translation. The company reaffirmed its full‑year 2026 adjusted EPS guidance of $17.70 to $17.90, indicating an expected 8% to 9% growth for the year. Full‑year capital expenditure is forecast at $5.5 billion to $6.0 billion, which includes funding for growth and maintenance activities as well as the $8.1 billion contractual sale of a gas‑project backlog.
Separately, Linde entered a long‑term agreement to supply ultra‑high‑purity industrial gases to one of the world’s largest semiconductor manufacturers for the expansion of the customer’s manufacturing complex in Phoenix, Arizona. Under this agreement, Linde will invest $1 billion to expand its on‑site industrial gases complex at the Phoenix location. The investment will fund the construction, ownership, and operation of two new SPECTRA air‑separation units and associated infrastructure, complementing the three existing units already operating at the site. This represents one of Linde’s largest investments for an electronics customer globally.