Praxair Earnings: Everything You Must Know Now

Praxair Inc. (NYSE:PX) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

Praxair Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 4.93% to $1.49 in the quarter versus EPS of $1.42 in the year-earlier quarter.

Revenue: Rose 7.22% to $3.01 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Praxair Inc. reported adjusted EPS income of $1.49 per share. By that measure, the company missed the mean analyst estimate of $1.49. It beat the average revenue estimate of $3 billion.

Quoting Management: Commenting on the financial results and business outlook, Chairman, President and Chief Executive Officer Steve Angel said, “Our on-site business continued to be very strong with improving volumes to the energy, chemicals and metals industries across the Americas and Asia. Merchant deliveries continued to grow modestly with stable demand from healthcare and food and beverage. However, packaged gas demand weakened slightly due to poor overall business confidence and lower private and public spending on construction and capital projects.
In the near term, we expect these trends to continue with the strongest growth in chemicals, energy and emerging markets. Fortunately, we are well positioned geographically and have a strong backlog of large on-site projects being readied for start-up.”

Key Stats (on next page)…

Revenue increased 4.36% from $2.89 billion in the previous quarter. EPS increased 7.97% from $1.38 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.56 to a profit $1.54. For the current year, the average estimate has moved down from a profit of $6 to a profit of $5.96 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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