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Praxair’s Earnings Rise on Higher Volumes, Selling Prices
2:38 AM MDT | October 30, 2008 | Nancy Seewald
Praxair reported third-quarter net income of $355 million ($1.11/share), up 16% from the same period last year, and beating analysts’ consensus of $1.06/share, as reported by First Call (Boston). Operating profit was a record $544 million, up 18% on higher selling prices and volume growth. Sales rose 20%, to $2.85 billion. Sales were strongest in Asia and South America, and in electronics and energy end markets. “We had another very strong quarter despite some effect from the U.S. Gulf Coast hurricanes, and slowing macroeconomic growth in the U.S. and...
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