A $425 million charge drove down Linde plc's reported third-quarter earnings, but the industrial-gas maker raised its 2026 forecast while weighing strategic options for its U.S. home-care unit.
Sales reached $9.404 billion in the quarter ended Sept. 30, 2026, 9% above the year-earlier level, Linde said in its Oct. 29 results release. Adjusted diluted earnings per share (EPS) also advanced 9%, to $4.59. Underlying sales expanded 5%, with pricing contributing three percentage points and volume contributing two.
Reported net income fell 12% to $1.692 billion, while diluted EPS declined 11% to $3.66. Linde's filing lists $200 million in global severance costs and $42 million in other cost-reduction charges. Another $183 million consisted of noncash charges, primarily tied to U.S. home care.
Linde moved Lincare from the Americas segment to Other following a change in management reporting and put the business under Chief Financial Officer Matt White. Chief Executive Officer Sanjiv Lamba said the new presentation gives investors a clearer view of the regional gases businesses. Linde said the reclassification left its overall financial position, operating results and cash flows unchanged.
White said Linde could not promise that a strategic option would be available. He estimated Lincare had reduced year-to-date EPS growth by about 1.5% to 2%. The company's fourth-quarter outlook assumes no meaningful improvement in the unit's profit.
Electronics led Linde's listed end markets with 15% sales growth, followed by chemicals and energy at 12%. Manufacturing grew 7%; food and beverage and metals and mining each rose 3%; healthcare gained 2%. The figures exclude Engineering sales and adjust for currency, cost pass-throughs, acquisitions, divestitures and nonrecurring items.
Linde forecast fourth-quarter adjusted diluted EPS of $4.40 to $4.50, up 5% to 7% from a year earlier. It raised its 2026 range to $17.82 to $17.92 from $17.70 to $17.90, assuming a 2% favorable currency effect. Linde lists the RBC Global Industrials Conference for Nov. 17 as an upcoming investor event.
