S&P 500 (NYSE:SPY) component Praxair, Inc. (NYSE:PX) reported its results for the first quarter. Praxair Inc. produces and sells atmospheric, process and specialty gases, and high-performance surface coatings to industrial clients.
Praxair Earnings Cheat Sheet for the First Quarter
Results: Net income for Praxair, Inc. rose to $398 million ($1.29/share) vs. $314 million ($1.01/share) in the same quarter a year earlier. A rise of 26.8% from the year earlier quarter.
Revenue: Rose 11.3% to $2.7 billion YoY.
Actual vs. Wall St. Expectations: PX beat the mean analyst estimate of $1.26/share. Estimates ranged from $1.24 per share to $1.29 per share.
Quoting Management: Commenting on the results and business outlook, Chairman and Chief Executive Officer Steve Angel said, “Praxair kicked off the year with solid volume growth. The emerging markets, primarily South America and Asia, grew at double-digits, while our business in North America benefitted from steady economic recovery in the U.S.”
Key Stats: Net income has increased 2.8% year over year on average across the last five quarters. The biggest gain came in the most recent quarter, when income climbed 26.8% from the year earlier quarter.
Over the last five quarters, revenue has increased 12.7% on average year over year. The biggest increase came in the second quarter of the last fiscal year, when revenue rose 18.2% from the year earlier quarter.
Today’s Performance: Shares of PX are trading at $103.31 as of April 27, 2011 at 10:56 AM ET, down from the previous closing price of $108.12.