Praxair reports EPS in-line, revs in-line; guides Q4 EPS below consensus
Reports Q3 (Sep) earnings of $1.62 per share, in-line with the Capital IQ Consensus Estimate of $1.62; revenues rose 4.3% year/year to $3.14 bln vs the $3.16 bln consensus.
- Organic sales grew 5% from higher volumes, including new project start-ups, in North America, South America and Asia, and higher price across all operating segments. By end-market, sales growth was strongest for manufacturing, food and beverage, healthcare and metals customers.
- "Volume growth was mixed. In North America, our U.S. and Canadian businesses grew quite well, while sales to energy-related customers in Mexico remained weak. European volumes grew modestly across most countries. Asia experienced slowing volume growth in China, while India volumes were strong. Praxair Brazil delivered growth in a negative industrial production environment driven by new applications and growth in healthcare and food and beverage end-markets.