Linde targets growth in commercial space market

By Bartosz Dabrowski

(Reuters) -Linde, the world's largest industrial gases company, on Friday said it was planning to grow its commercial space business after posting quarterly earnings above market expectations.

The U.S.-German company supplies industrial gases and infrastructure to over 80% of U.S. commercial space launches, its chief executive Sanjiv Lamba told analysts on a conference call. That includes a contract with NASA to supply liquid hydrogen used as fuel in cryogenic rocket engines.

"I do see space as a very attractive opportunity for growth," CEO Sanjiv Lamba said. Over the last three years, Linde's revenues from the commercial space segment had almost quadrupled, he added.

Last week, Linde announced two long-term agreements to supply bulk industrial gases for rocket launches to support the U.S. commercial space sector.

"The opportunity to supply fuels for rocket launches, propulsion systems for placing satellites into orbits, it's fueling double-digit growth in that particular end market," Lamba said.

Linde reported a 6% rise in its adjusted earnings per share to $4.09 in the second quarter. That was ahead of analysts' mean estimate of $4.03 per share, according to LSEG data.

Linde's chemicals & energy business grew 22% in the April-June period.

The group raised the lower end of its 2025 earnings per share guidance, and now expects them in a range of $16.30 to $16.50, compared to between $16.20 and $16.50 previously.

Linde's total sales were up 5% at $8.495 billion in the second quarter, against analysts' forecast of $8.352 billion.

(Reporting by Bartosz Dabrowski in Gdansk, editing by Milla Nissi-Prussak and Matt Scuffham)