--- canonical_url: https://www.stockexpertai.com/earnings/lin last_updated: 2026-08-10T06:17:04.285Z --- # Linde plc (LIN) Q1 FY2027 Earnings Preview > This content was automatically generated with FMP live data + Q2 FY2026 earnings call transcript. Generated: 2026-08-10T06:17:02.482Z. Educational tool, not investment advice. --- ## Quick Summary | Field | Value | Source | |---|---|---| | Price | $489.98 (▼ -0.03%) | fmp:quote | | Market Cap | $226.7B | fmp:profile | | 52w range | $387.78 – $548.20 | fmp:quote | | Earnings | Fri 30 Oct | fmp:earnings-history | | EPS estimate | $4.53 (+8% YoY) | fmp:earnings-estimate | | Revenue estimate | $9.1B | fmp:earnings-estimate | | Beat streak | 8/4 | fmp:earnings-history | | Rating | B (overall 3/5) | fmp:ratings | | Analyst median target | $564 (+15.1% upside) | fmp:price-target-consensus | | MoonshotScore | 46/100 | derived | | Council | 2/6 bullish | derived | | Munger verdict | Fairly Valued | derived | ## Linde plc — Q1 FY2027 Expectations Q1 consensus: revenue $9.1B^{[FMP est]}, EPS $4.53^{[FMP est]}. 8 consecutive quarters of beat^{[FMP earnings]}. ## Quick Take **Score:** B · **Stance:** BUY · **Council:** 2/6 · **Moonshot:** 46 = MoonshotScore 46^{[multi-pillar formula]} + Council 2/6^{[6-lens rule]}. Form 4: 0 transactions^{[FMP Form 4]}. ## Watchlist (4 metrics) ### 1. Eps Guidance Q3 Fy Linde projects Q3 EPS in the range of $4.45 to $4.55, representing 6% to 8% growth, and updated its full-year EPS guidance to $17.70 to $17.90, reflecting 8% to 9% growth. > "Third quarter guidance range is $4.45 to $4.55. Or 6 percent to 8 percent growth. This assumes no currency impact from prior year but does assume a 1 percent FX headwind sequentially. Consistent with prior approach, range assumes no economic improvement at the midpoint. The updated full year range is $17.70 to $17.90. Or 8% to 9 percent growth excluding a 1 percent FX tailwind assumption." > — Matthew J. White, Expectation / Guide · Q2 FY2026 ### 2. Us Homecare Margin Drag Operating margins declined year-over-year, primarily due to the US homecare business (Lincare), which faces headwinds from higher cost inflation and policy changes, despite active portfolio pruning. > "Operating margins, excluding cost pass through, declined approximately 30-basis-point year over year. Primarily driven by the Americas segment. The majority is driven by the U.S. homecare business. Even though we have been actively pruning this portfolio, it simply has not been enough to overcome the continued headwinds led by higher cost inflation, and policy changes." > — Sanjiv Lamba, Risk Indicator · Q2 FY2026 ### 3. Electronics Market Ai Demand Electronics remains the fastest-growing end market, with 18% year-over-year growth in Q2, fueled by project startups and increased demand for hardware associated with AI. > "As expected, electronics is the fastest growing end market. With a combination of project start ups, and higher demand tied to hardware associated with AI. As I mentioned earlier, we added $1 billion of new electronic wins to the backlog to support the expansion of advanced node fabs in the Western US. ... electronics, you know, as you saw year on year had 18 percent growth in second quarter." > — Sanjiv Lamba, Investor Focus · Q2 FY2026 ### 4. Backlog Record Electronics Wins Linde achieved record sales and EPS, increasing its backlog by $1 billion to an all-time high of $8.1 billion, driven by new electronics wins in the US. > "During 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 electronics win in the US." > — Sanjiv Lamba, Investor Focus · Q2 FY2026 ## MoonshotScore Pillars | Pillar | Score | Level | Evidence | |---|---|---|---| | Revenue Growth | 4.0 | medium | Q2 vs Q3: moderate growth (+7.8%) | | Gross Margin | 5.0 | medium | Q2: average margin (47.7%) | | Operating Leverage | 3.0 | weak | op margin healthy (27.3%) | | Cash Runway | 6.0 | medium | FCF positive but absorbed ($0.8B vs $1.4B CapEx) | | R&D Intensity | 3.0 | weak | low R&D investment (0.4%, weak innovation) | | Price Momentum | 4.0 | medium | RSI 39.4 weak momentum, 50d below | | News Sentiment | 7.0 | strong | strong buy consensus (74%) | **Formula:** sum(pillar.score) / (count * 10) * 100. Each pillar deterministic from FMP. Source maps in pillar.formula. ## Council (7-Lens) | Name | Stance | Context | |---|---|---| | Ray Dalio | bull | macro · target upside +15.1% | | Ken Griffin | bear | flow · 50d MA below | | Jim Simons | neutral | quant · RSI 39 | | Klarman | neutral | value · target upside +15.1% | | Buffett | bull | quality · ROE score 5/5 | | Munger | neutral | valuation · target upside +15.1% | **Formula:** Each lens uses deterministic rule on bundle data. Logged in member.contextTr. ## Munger Lens - **Verdict:** Fairly Valued - **Financial Health:** Moderate - **Margin of Safety:** Moderate - **Interest Coverage:** Adequate - **ROIC vs WACC:** Healthy **Formula:** verdict=upside>25?Undervalued:>0?Fairly Valued:Overvalued. Each lens deterministic from FMP ratings + priceTarget. ## Technical Levels - **RSI(14):** 39.4 — momentum zayıf — oversold yakınında değil ama alıcı baskısı az - **50d MA:** $512 — hisse %4.3 altında — kısa vadeli direnç - **200d MA:** $475 — hisse %3.2 üstünde — uzun vadeli destek - **Volume (10d):** -32% ## Past Performance (4 Quarters) | Quarter | EPS Actual | EPS Estimate | Result | Reaction | |---|---|---|---|---| | Q3 FY25 | $4.21 | $4.18 | BEAT | -1.5% | | Q4 FY25 | $4.20 | $4.18 | BEAT | -2.5% | | Q1 FY26 | $4.33 | $4.27 | BEAT | -2.8% | | Q2 FY26 | $4.50 | $4.49 | +0.2% EPS | +0.4% | Q2 (July 31, 2026): EPS $4.50 vs $4.49 est^[FMP], +0.2% beat. D+1 movement: +0.4%^{[FMP D+1]}. Decline despite beat — market reacted to guidance, not numbers. ## 3 Scenarios ### Scenario A · Beat **Q1 EPS > $4.53 + CapEx discipline** Threshold: EPS > $4.53^{[FMP est]}. Target: Break above median target $564^{[FMP target]}; high target $612^[FMP] upper bound. ### Scenario B · In-Line **EPS ≈ $4.53 + CapEx < $1.4B** Threshold: EPS ≈ $4.53^{[FMP est]}, Q1 CapEx < $1.4B^[FMP]. Target: Consolidation in the band between current $490^[FMP] and median $564^[FMP]. ### Scenario C · Miss **EPS < $4.39 or CapEx ≥ $1.4B** Threshold: EPS < $4.39^{[FMP est×0.97]}. Target: Current $490 below SMA200 $475^[FMP], if rejection continues, $404^[derived] support activates. ## Risk Notes ### Primary segment below threshold Q2: EPS $4.50 vs $4.49 beat^[FMP], stock +0.4% D+1^[FMP]. Matthew J. White Q2 transcript: "As expected, electronics is the fastest growing end market. With a combination of project start ups, and higher demand tied to hardware associated with AI. As I mentioned earlier, we added $1 billion of new electronic wins to the backlog to support the expansion of advanced node fabs in the Western US. ... electronics, you know, as you saw year on year had 18 percent growth in second quarter."^{[Matthew J. White]}. ### Backlog concentration No RPO/backlog concentration disclosed in Q2 earnings call. ### Insider trading Form 4 data is marked in the table — this page does not generate assumptions for this stock. | Executive | Action | Amount | Date | |---|---|---|---| **Net:** — (0 transactions · 0 sells · 0 buys) · Q2 FY26 ### CapEx shock Q2 CapEx $1.4B^{[FMP cashflow]}. Q2 op margin 27.3%^{[FMP op margin]} — this level in Q1 is sensitive to CapEx revision risk. ## Wall Street Consensus - **Median target:** $564 (+15.1% upside vs current $490) - **High / Low:** $612 / $525 - **Buy / Hold / Sell:** 20 / 6 / 1 - **Analyst count:** 6 (last quarter), 55 all-time ## Additional Transcript Insights ### 1. backlog_record_electronics_wins **Claim:** Linde achieved record sales and EPS, increasing its backlog by $1 billion to an all-time high of $8.1 billion, driven by new electronics wins in the US. **Evidence (transcript):** "During 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 electronics win in the US." **Numbers:** $1 billion, $8.1 billion ### 2. us_homecare_margin_drag **Claim:** Operating margins declined year-over-year, primarily due to the US homecare business (Lincare), which faces headwinds from higher cost inflation and policy changes, despite active portfolio pruning. **Evidence (transcript):** "Operating margins, excluding cost pass through, declined approximately 30-basis-point year over year. Primarily driven by the Americas segment. The majority is driven by the U.S. homecare business. Even though we have been actively pruning this portfolio, it simply has not been enough to overcome the continued headwinds led by higher cost inflation, and policy changes." **Numbers:** 30-basis-point ### 3. electronics_market_ai_demand **Claim:** Electronics remains the fastest-growing end market, with 18% year-over-year growth in Q2, fueled by project startups and increased demand for hardware associated with AI. **Evidence (transcript):** "As expected, electronics is the fastest growing end market. With a combination of project start ups, and higher demand tied to hardware associated with AI. As I mentioned earlier, we added $1 billion of new electronic wins to the backlog to support the expansion of advanced node fabs in the Western US. ... electronics, you know, as you saw year on year had 18 percent growth in second quarter." **Numbers:** $1 billion, 18 percent ### 4. eps_guidance_q3_fy **Claim:** Linde projects Q3 EPS in the range of $4.45 to $4.55, representing 6% to 8% growth, and updated its full-year EPS guidance to $17.70 to $17.90, reflecting 8% to 9% growth. **Evidence (transcript):** "Third quarter guidance range is $4.45 to $4.55. Or 6 percent to 8 percent growth. This assumes no currency impact from prior year but does assume a 1 percent FX headwind sequentially. Consistent with prior approach, range assumes no economic improvement at the midpoint. The updated full year range is $17.70 to $17.90. Or 8% to 9 percent growth excluding a 1 percent FX tailwind assumption." **Numbers:** $4.45, $4.55, 6 percent, 8 percent, $17.70, $17.90, 8%, 9 percent, 1 percent ### 5. helium_market_normalization **Claim:** The helium market is not expected to normalize this year due to ongoing issues in the Strait of Hormuz, with a slower normalization pace likely extending into early next year. **Evidence (transcript):** "Any change in the Strait of Hormuz and the fact that we restart helium production back in Qatar and get the alignment of all the supply chain elements that each come together between tanks and shipping and so on and so forth. I think we will have a lasting impact for the rest of the year. I do not think you will see normalization. This year, it will, you know, once those issues are resolved, of course, still remains a little bit of a question mark today, Once the issues are resolved, we will see normalization progress at a slower pace than most of us would like. And it will kinda probably take us into the early part of next year." **Numbers:** — --- *Data source: FMP (live query, 2026-08-10), Q2 FY2026 earnings call transcript (Translated to EN with Gemini 2.0 Flash). Educational tool, not investment advice.*