Linde Q4 Earnings Beat on Higher Americas Pricing, Revenues Rise Y/Y

Core Insights - Linde plc reported fourth-quarter 2025 adjusted earnings per share (EPS) of $4.20, exceeding the Zacks Consensus Estimate of $4.18 and improving from $3.97 in the same quarter last year [1][10] - Total quarterly revenues reached $8,764 million, surpassing the Zacks Consensus Estimate of $8,561 million and increasing from $8,282 million year-over-year [1][10] Revenue and Profit Analysis - The Americas segment's operating profit rose 4.5% to $1,202 million, supported by higher pricing and increased volumes, particularly in the electronics market [3] - The EMEA segment's profit increased approximately 12.5% year-over-year to $772 million, beating the Zacks Consensus Estimate of $739 million, aided by higher pricing despite lower volumes in the chemicals & energy market [4] - The APAC segment's profit grew slightly from $500 million to $502 million, driven by higher volumes in electronics and chemicals & energy [5] Backlogs and Capital Expenditure - Linde's project backlog at the end of the fourth quarter amounted to $10 billion, including a sale-of-gas backlog of $7.3 billion [6] - The company reported capital expenditures of $1.46 billion for the fourth quarter, ending with cash and cash equivalents of $5.1 billion and long-term debt of $20.7 billion [7] Future Guidance - For 2026, Linde estimates adjusted EPS to be in the range of $17.40 to $17.90, with first-quarter 2026 adjusted EPS expected to be between $4.20 and $4.30 [8]