Filing Flows › Linde (LIN) › Q1 2025
Linde (LIN) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Linde (LIN) reported revenue of $8.1B for the first quarter 2025 (Q1 2025), +0.1% from a year earlier and -2% from the quarter before. Operating margin was 26.9%, net earnings $1.7B (20.6% of revenue).
Linde, Q1 2025: revenue $8.1B (+0.1% year over year), operating margin 26.9%, net earnings $1.7B, operating cash flow $2.2B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.1B | -2% | +0.1% |
| Operating profit | $2.2B | -4% | +4% |
| Net earnings | $1.7B | -3% | +3% |
| Operating cash flow | $2.2B | -23% | +11% |
| Free cash flow | $891M | -43% | -2% |
What changed
Revenue was $8.1B in Q1 2025, roughly flat year over year and down 2% from the previous quarter. Americas was the largest line at 45% of revenue. Americas added $0.11B year over year (up 3%), 883% of the total change. APAC declined 3%.
Operating profit was $2.2B, a 26.9% margin (up 1.1 points year over year). Of the extra revenue versus a year earlier, 742% reached operating profit, above the 26% margin then. Total costs fell 1% while revenue was flat. Net earnings were $1.7B, up 3% year over year. The effective tax rate was 23.0%.
Operating cash flow was $2.2B (up 11% year over year), 127% of net earnings. Non-cash charges added back $0.91B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items used $0.50B. Capital expenditures of $1.3B left free cash flow of $0.89B.
Questions
What was Linde's revenue in the first quarter 2025?
Linde (LIN) reported revenue of $8.1B for the first quarter 2025 (Q1 2025), +0.1% from a year earlier and -2% from the quarter before.
Was Linde profitable in the first quarter 2025?
Operating profit was $2.2B (26.9% of revenue) and net earnings $1.7B.
Source: Linde 10-Q on SEC EDGAR.