Key Highlights

  • Linde (NASDAQ:LIN) rose 8.56% over one month to USD 507.37 in published market data as of October 28, 2026, though it is flat over three months at negative 0.60% and up 19.02% year to date.
  • Third-quarter results are due before 6:00 a.m. ET on October 29, 2026, with a call at 9:00 a.m. ET, and the company guided adjusted EPS of USD 4.45 to USD 4.55.
  • Second-quarter results on July 31, 2026 showed sales of USD 9.3 billion, up 9%, with underlying sales up 4%, and adjusted EPS of USD 4.50, up 10%.
  • Full-year adjusted EPS guidance is USD 17.70 to USD 17.90, up 8% to 9%, and the sale of gas backlog reached a record USD 8.1 billion after a new US electronics contract.

A Run Into the Report

Linde (NASDAQ:LIN) has gained 8.56% over the month into its third-quarter report, but no company announcement in October was found that explains the move. Over three months the shares are down 0.60% and over six months up only 0.80%, so the recent gain is a recovery within a range, not a breakout. Results are due before 6:00 a.m. ET on October 29, 2026, with a conference call at 9:00 a.m. ET open to the public in listen-only mode. Published market data as of October 28 shows the shares at USD 507.37 and up 2.03% over the latest week. This is a preview, so results are not described here.

What the Last Report Showed

In the second quarter, reported on July 31, 2026, sales were USD 9.3 billion, up 9%, with underlying sales up 4%, and adjusted EPS was USD 4.50, up 10%. Full-year adjusted EPS guidance of USD 17.70 to USD 17.90 implies growth of 8% to 9%, and the third-quarter range of USD 4.45 to USD 4.55 implies 6% to 8%. Project backlog was USD 11 billion, and the sale of gas backlog, which reflects long-term supply contracts, reached a record USD 8.1 billion after a new US electronics supply contract. Chief Executive Sanjiv Lamba pointed to robust proposal activity, mainly in electronics. The record backlog suggests demand for electronics supply.

Risks and What to Watch

Linde returned USD 1,590 million to shareholders through dividends and repurchases, net of issuances, in the second quarter, which supports the equity story. The risks are industrial demand in Europe and Asia, energy costs and project timing, because large projects can be delayed. Investors should compare third-quarter adjusted EPS with the USD 4.45 to USD 4.55 range, any change to the USD 17.70 to USD 17.90 full-year guidance and updates on backlog. A result inside guidance may not lift the shares after an 8.56% rise. Energy cost pass-through clauses in industrial gas contracts typically reduce the effect of power prices, but do not remove it. Market consensus for the quarter was not retrieved, so the comparison here is with the company's own range, which analysts typically read as the main anchor.

Where Things Stand

The answer is that Linde (NASDAQ:LIN) gained 8.56% as investors positioned for third-quarter results on October 29, 2026, with solid second-quarter numbers, a record gas backlog and steady guidance in the background, not because of a company announcement. At USD 507.37 as of October 28, the shares are flat over three months, so the recovery is partial. Adjusted EPS against the USD 4.45 to USD 4.55 range and any change to full-year guidance are the next test.