Praxair reports EPS in-line, misses on revs; guides Q3 EPS below consensus; lowers FY15 EPS below consensus
- Reports Q2 (Jun) earnings of $1.45 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $1.45; revenues fell 12.0% year/year to $2.74 bln vs the $2.85 bln consensus, primarily due to the impact of negative currency translation of 9% and lower cost pass-through of 2%. Organic sales were 1% lower than the prior-year quarter as positive price and new project contribution were offset by weaker underlying industrial activity in Brazil and China and from weaker metals, energy and manufacturing in the United States.
- Co issues downside guidance for Q3, sees EPS of $1.42-1.49, excluding non-recurring items, vs. $1.57 Capital IQ Consensus Estimate.
- Co issues downside guidance for FY15, lowers EPS to $5.80-5.95, excluding non-recurring items, from $5.90-6.15 vs. $5.99 Capital IQ Consensus Estimate.