Industrial Gases Makers Post Strong Fourth-Quarter Results

U.S. industrial gases producers had a strong first quarter, and beat analysts’ earnings estimates. Praxair reported net income up 17%, to $316 million (98 cts/share), on sales up 19%, to $2.5 billion. The consensus of analysts’ estimates as reported by First Call (Boston) was 98 cts/share. The energy and manufacturing markets drove sales growth, Praxair says. Volume growth in North America improved to 5% from 2% in the third quarter. Praxair says it expects full-year 2008 earnings of $4.00-$4.20/share. First Call’s consensus estimate is $4.17/share. Air...

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