Praxair beats by $0.04, beats on revs; guides Q1 EPS in-line (160.87)
- Reports Q4 (Dec) earnings of $1.52 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $1.48; revenues rose 11.7% year/year to $2.95 bln vs the $2.84 bln Capital IQ Consensus.
- Co issues in-line guidance for Q1, sees EPS of $1.53-1.58, excluding non-recurring items, vs. $1.55 Capital IQ Consensus Estimate.
- Reported and adjusted operating profit margins were 21.5% and 22.1%, respectively. EBITDA margin was 32.3% and adjusted EBITDA margin was 32.9%.
- In North America, fourth-quarter sales were $1,542 million, 9% above the prior-year quarter, excluding currency translation. Sales growth was driven primarily by stronger volumes to the downstream energy, manufacturing and electronics end-markets and higher price.
- Praxair Surface Technologies had fourth-quarter sales of $159 million, up 7% above prior-year quarter. Sales growth was driven primarily by aerospace coatings