Higher Selling Prices and Improved Volumes Lift Earnings at Industrial Gases Firms

Praxair reported net income up 25%, to $305 million (94 cts/share), on sales up 13%, to about $2.4 billion because of new business, improved pricing and operational efficiencies. The consensus of analysts’ estimates as reported by First Call (Boston) was for 91 cts/share. Revenues improved in all geographies, “led by strong growth in Asia and South America from new business and project start-ups, and continued stable growth in North America,” Praxair says. “The pace of new business activity continues to be robust around the globe, reflecting...

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