IHS Chemical Week

Markets :: Industrial Gases

Praxair earnings up on strength in energy, announces share repurchase program

9:25 AM MST | January 29, 2014 | Lindsay Frost

Praxair today announced its fourth-quarter earnings, showing gains due to strength in North American markets and the energy industry, specifically hydrogen plants. Net income was $474 million, up 14% year-on-year (YOY), which includes an income tax benefit and bond redemption charge. Earnings per share of $1.59/share were higher than analyst estimates of $1.55/share, as reported by Thomson Reuters (New York). Sales were $3 billion—up 8% YOY. Organic sales also increased with growth across all geographic segments primarily because of energy, metals...

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