World News and Views :: Top of the News
Praxair’s Adjusted Income Beats Estimates
12:20 PM MST | January 28, 2009 | Nancy Seewald
Praxair reported fourth-quarter net income of $200 million, down 37% compared to the same period last year, on sales down 5%, to $2.4 billion. Excluding a charge of $177 million related mostly to cost-cutting measures taken late last year, earnings were $1.01/share, beating the consensus of analysts’ estimates of 96 cts/share. Operating profit, excluding the charge, rose 1%, to $491 million, as higher pricing and cost reductions offset the sharp drop in base-business volumes, Praxair says. “As we anticipated, volumes dropped dramatically in November...
This information is only available to Chemical Week subscribers.
Forgot your user ID or password?
Not an IHS Chemical Week member yet?
Here's why you should be:
100% Satisfaction Guarantee