gasworld Business Intelligence provides you with the latest analysis of Praxair’s Q3 2015 earnings reports.
- Q3 reported corporate sales down -15% YoY and -2% sequentially, at $2.69bn.
- Q3 corporate operating profit down -13% YoY, and -1% sequentially.
- Total sales down -2% YoY, excluding currency and energy cost pass-through.
- Operating margin at 23.1% in Q3 – was 50bp up on previous year – highest margin in recent years helped by negative impact on top line of energy cost pass-through, and previous cost reduction actions.
- EBITDA margin up to over 33% of sales – up YoY and sequentially.
- Still highest operating and EBITDA margins in industry.
- ROE at 32.5% – up over 400bp YoY.
- Further cost actions taken – $26m charge in Q3 (lower than Q2), mainly South America and Asia.
- 2015 expectations reduced – with economy slowing further – expecting EPS growth slowed further to +3-4% (excluding currency), including 11% currency headwind.
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