# EDGAR Filing Document

**Accession Number:** 0001707925
**File Stem:** 0001654954-25-012384
**Filing Date:** 2025-10
**Character Count:** 15076
**Document Hash:** 1fbac672c4fe227851029c0c337c3763
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001654954-25-012384.hdr.sgml**: 20251031

**ACCESSION NUMBER**: 0001654954-25-012384

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 32

**CONFORMED PERIOD OF REPORT**: 20251031

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251031

**DATE AS OF CHANGE**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LINDE PLC
- **CENTRAL INDEX KEY:** 0001707925
- **STANDARD INDUSTRIAL CLASSIFICATION:** INDUSTRIAL INORGANIC CHEMICALS [2810]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** L2
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38730
- **FILM NUMBER:** 251437873

**BUSINESS ADDRESS:**
- **STREET 1:** FORGE, 43 CHURCH STREET WEST
- **CITY:** WOKING SURREY
- **STATE:** X0
- **ZIP:** GU216HT
- **BUSINESS PHONE:** 00441483242200

**MAIL ADDRESS:**
- **STREET 1:** FORGE, 43 CHURCH STREET WEST
- **CITY:** WOKING SURREY
- **STATE:** X0
- **ZIP:** GU216HT

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZAMALIGHT PLC
- **DATE OF NAME CHANGE:** 20170622

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRAXAIR
- **DATE OF NAME CHANGE:** 20170614

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZAMALIGHT PLC
- **DATE OF NAME CHANGE:** 20170530

?xml version='1.0' encoding='ASCII'? lin_8k.htm

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549** 

**FORM 8-K** 

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE**

**SECURITIES EXCHANGE ACT OF 1934**

**DATE OF REPORT (Date of earliest event reported): October 31, 2025**

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| |
|:---|
| **Linde plc** |
| **(Exact name of registrant as specified in its charter)** |

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| | | |
|:---|:---|:---|
| **Ireland** | **001-38730** | **98-1448883** |
| **(State or other jurisdiction**<br>**of incorporation)** | **(Commission**<br>**File Number)** | **(I.R.S. Employer**<br>**Identification No.)** |

---

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| | |
|:---|:---|
| **10 Riverview Dr.**<br>**Danbury, Connecticut**<br>**United States 06810** | **Forge**<br>**43 Church Street West**<br>**Woking, Surrey GU21 6HT**<br>**United Kingdom** |

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**(Address of principal executive offices) (Zip Code)**

**<u>+44 1483 242200</u>**

**(Registrant's telephone numbers, including area code)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading symbol(s) | Name of each exchange on which registered |
| Ordinary shares (€0.001 nominal value per share) | LIN | Nasdaq Stock Market |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**<u>ITEM 2.02 Results of Operations and Financial Condition</u>**

On October 31, 2025, Linde plc (the "Company") issued a press release setting forth Linde plc's results of operations for the quarter ended September 30, 2025. A copy of Linde plc's press release is furnished herewith as Exhibit 99.1 and is hereby incorporated by reference in this Item 2.02.

**ITEM 9.01. Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits. The following exhibit is furnished herewith pursuant to Item 2.02 hereof:

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| [99.1](lin_ex991.htm) | [Press Release dated October 31, 2025](lin_ex991.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
| **LINDE PLC** | **LINDE PLC** |
| By: | /s/ Kelcey E. Hoyt |
| Name: | Kelcey E. Hoyt |
| Title: | Principal Accounting Officer |

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Date: October 31, 2025

## Exhibit 99.1

**EXHIBIT 99.1**

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|:---|:---|
| ![](lin_ex991img3.jpg)<br>| ![](lin_ex991img1.jpg) |

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**Linde Reports Third-Quarter 2025 Results**

**Third-Quarter Highlights** 

➢ Sales $8.6 billion, up 3% YoY

➢ Operating profit $2.4 billion, adjusted operating profit $2.6 billion, up 3%

➢ Operating profit margin 27.5%; adjusted operating profit margin 29.7%, up 10 basis points

➢ EPS $4.09, up 27%; adjusted EPS $4.21, up 7% YoY

➢ Third-quarter operating cash flow of $2.9 billion, up 8% YoY

➢ Full-year 2025 adjusted EPS guidance of $16.35 - $16.45 representing 5% to 6% growth

Woking, UK, October 31, 2025 – Linde plc (Nasdaq: LIN) today reported third-quarter 2025 net income of $1,929 million and diluted earnings per share of $4.09, up 24% and up 27%, respectively. Excluding Linde AG purchase accounting impacts and cost reduction program and other charges, adjusted net income was $1,987 million, up 5% versus prior year. Adjusted earnings per share was $4.21, 7% above prior year.

Linde's sales for the third quarter were $8,615 million, up 3% versus prior year. Compared to prior year, underlying sales increased 2% from price attainment as volumes were flat. Acquisitions increased sales by 1%.

Third-quarter operating profit was $2,367 million. Adjusted operating profit of $2,558 million was up 3% versus prior year led by higher price and continued productivity initiatives across all segments. Adjusted operating profit margin of 29.7% was 10 basis points above prior year.

Third-quarter operating cash flow of $2,948 million increased 8% versus prior year. After capital expenditures of $1,276 million, free cash flow was $1,672 million. During the quarter, the company returned $1,685 million to shareholders through dividends and stock repurchases, net of issuances.

Commenting on the financial results and business outlook, Chief Executive Officer Sanjiv Lamba said, "Despite stagnant industrial activity, Linde employees once again demonstrated resilient results by growing operating cash flow 8% and EPS to an all-time high of $4.21, all while maintaining industry leading margins and return on capital."

Lamba continued, "While we remain guarded on any near-term industrial recovery, our time-tested capital allocation policy and disciplined investment approach will continue to generate long-term shareholder value."

For the fourth quarter of 2025, Linde expects adjusted diluted earnings per share in the range of $4.10 to $4.20, up 3% to 6% versus prior-year quarter or 1% to 4% when excluding 2% of estimated currency tailwind.

For the full year 2025, the company expects adjusted diluted earnings per share to be in the range of $16.35 to $16.45, up 5% to 6% versus prior year with estimated currency to be flat. Full-year capital expenditures are expected to be in the range of $5.0 billion to $5.5 billion to support growth and maintenance requirements including the $7.1 billion contractual sale of gas project backlog.

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|:---|:---|
| ![](lin_ex991img6.jpg)<br>| ![](lin_ex991img4.jpg) |

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**Third-Quarter 2025 Results by Segment**

Americas sales of $3,846 million were up 6% versus prior year. Compared with third quarter 2024, underlying sales increased 4%, driven by 3% higher pricing and 1% higher volumes, primarily in the electronics, manufacturing and metals and mining end markets. Operating profit of $1,199 million was 31.2% of sales, 70 basis points below prior year or 30 basis points lower when excluding the effects of cost pass-through.

APAC (Asia Pacific) sales of $1,741 million were up 1% versus prior year. Compared with third quarter 2024, underlying sales decreased 1%, driven by stable volumes but 1% lower pricing, primarily due to helium. Operating profit of $490 million was 28.1% of sales, 90 basis points below prior year. Year over year cost pass-through was immaterial.

EMEA (Europe, Middle East & Africa) sales of $2,178 million were up 3% versus prior year. Compared with third quarter 2024, underlying sales decreased 1%, driven by 2% higher pricing that was more than offset by 3% lower volumes, primarily in the metals & mining and manufacturing end markets. Operating profit of $781 million was 35.9% of sales, 260 basis points above prior year or 220 basis points when excluding the effects of cost pass-through.

Linde Engineering sales were $519 million, down 15% versus prior year, and operating profit was $101 million or 19.5% of sales. Order intake for the quarter was $269 million and third-party sale of equipment backlog was $2.9 billion.

**Earnings Call**

A teleconference on Linde's third-quarter 2025 results is being held today at 9:00 am EDT.

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| | |
|:---|:---|
| **Live conference call** | US Toll-Free Dial-In Number: 1 888 770 7292<br> UK Toll-Free Dial-In Number: 0800 358 0970<br> Access code: 6877110 |
|  **Live webcast (listen-only)** | https://www.linde.com/investors/financial-reports |

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Materials to be used in the teleconference are also available on the website.

**About Linde** 

Linde is a leading global industrial gases and engineering company with 2024 sales of $33 billion. We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain, decarbonize and protect our planet.

The company serves a variety of end markets such as chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases and technologies are used in countless applications including production of clean hydrogen and carbon capture systems critical to the energy transition, life-saving medical oxygen and high-purity & specialty gases for electronics. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.

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| ![](lin_ex991img7.jpg)<br>| ![](lin_ex991img5.jpg) |

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For more information about the company and its products and services, please visit www.linde.com

Adjusted amounts, free cash flow and return on capital are non-GAAP measures. See the attachments for a summary of non-GAAP reconciliations and calculations for adjusted amounts.

Attachments: Summary Non-GAAP Reconciliations, Statements of Income, Balance Sheets, Statements of Cash Flows, Segment Information and Appendix: Non-GAAP Measures and Reconciliations.

\*Note: We are providing adjusted earnings per share ("EPS") guidance for 2025. This is a non-GAAP financial measure that represents diluted earnings per share from continuing operations (a GAAP measure) but excludes the impact of certain items that we believe are not representative of our underlying business performance, such as cost reduction and other charges, the impact of potential divestitures or other potentially significant items. Given the uncertainty of timing and magnitude of such items, we cannot provide a reconciliation of the differences between the non-GAAP adjusted EPS guidance and the corresponding GAAP EPS measure without unreasonable effort.

**Forward-looking Statements**

This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are identified by terms and phrases such as: anticipate, believe, intend, estimate, expect, continue, should, could, may, plan, project, predict, will, potential, forecast, and similar expressions. They are based on management's reasonable expectations and assumptions as of the date the statements are made but involve risks and uncertainties. These risks and uncertainties include, without limitation: the performance of stock markets generally; developments in worldwide and national economies and other international events and circumstances, including trade conflicts and tariffs; changes in foreign currencies and in interest rates; the cost and availability of electric power, natural gas and other raw materials; the ability to achieve price increases to offset cost increases; catastrophic events including natural disasters, epidemics, pandemics such as COVID-19 and acts of war and terrorism; the ability to attract, hire, and retain qualified personnel; the impact of changes in financial accounting standards; the impact of changes in pension plan liabilities; the impact of tax, environmental, healthcare and other legislation and government regulation in jurisdictions in which the company operates; the cost and outcomes of investigations, litigation and regulatory proceedings; the impact of potential unusual or non-recurring items; continued timely development and market acceptance of new products and applications; the impact of competitive products and pricing; future financial and operating performance of major customers and industries served; the impact of information technology system failures, network disruptions and breaches in data security; and the effectiveness and speed of integrating new acquisitions into the business. These risks and uncertainties may cause future results or circumstances to differ materially from adjusted projections, estimates or other forward-looking statements.

Linde plc assumes no obligation to update or provide revisions to any forward-looking statement in response to changing circumstances. The above listed risks and uncertainties are further described in Item 1A. Risk Factors in Linde plc's Form 10-K for the fiscal year ended December 31, 2024 filed with the SEC on February 26, 2025 which should be reviewed carefully. Please consider Linde plc's forward-looking statements in light of those risks.

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