Praxair's Profits Up on Big Gains in Emerging Markets

Praxair’s first-quarter net income rose 17%, to $398 million, on sales up 11%, to $2.7 billion. Reported earnings rose 18% over the year-ago period, to $1.29/share, beating the consensus of analysts’ estimates by 3 cts/share. Sales rose across all geographies, with the strongest growth in the chemicals, electronics, manufacturing, and metals end markets. Profits and margins were lifted by higher volumes and selling prices, as well as productivity gains, the company says. Operating profits rose in all geographic regions except Europe, where currency...

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