Industrial gas major Linde has reported a solid second-quarter 2025 performance, with operating profit increasing by 6% to $2.6bn.
Sales rose 3% year-on-year to $8.5bn, while operating profit margins expanded by 80 basis points to 30.1%. Adjusted earnings per share (EPS) grew 6% to $4.09, reflecting the company’s strong financial health despite facing what CEO Sanjiv Lamba called a “muted industrial economy.”
Linde’s operating cash flow for the quarter was $2.2bn, marking a 15% increase from the previous year. After capital expenditures of $1.26bn, free cash flow was $954m. The company also returned $1.81bn to shareholders through dividends and stock repurchases, net of issuances.
Lamba commented, “Linde once again demonstrated strong resiliency as our employees delivered high-quality results.” He pointed to higher pricing and operational improvements as key contributors to the company’s performance, alongside securing several new contracts, including a long-term agreement for supplying gases to a in the US Gulf Coast, which forms part of Linde’s $7.1bn sale-of-gas backlog.
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