Air Products and Praxair Earnings Rise on Strong Demand

Industrial gases producers reported a strong second quarter. Praxair’s net income increased 20%, to $342 million ($1.08)/share, on sales up 23%, to $2.9 billion. The consensus of analysts' estimates as reported by First Call (Boston) was for $1.06/share). Operating profit rose 24%, to $543 million because of higher pricing and cost savings from productivity programs, Praxair says. Sales were up in all regions led by South America and Asia, the company says. “Our results reflect strong sales growth in Asia and South America due to the high level of...

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