Praxair Earnings Rise on Charges, Sales; 2012 Guidance Below Estimates

Praxair today reported fourth-quarter net income of $420 million, or $1.38/share, on sales up 7% year-on-year, to $2.8 billion. Earnings more than tripled due to an income tax settlement that negatively impacted fourth-quarter earnings in 2010. Excluding special charges, which include the tax settlement and an acquisition-related gain in the fourth-quarter of 2011, earnings totaled $414 million, or $1.36/share, up about 7% from the year-ago period. Earnings fell slightly short of analysts’ consensus of $1.37/share.   The company issued 2012 earnings...

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