gasworld Business Intelligence provides you with the latest analysis of Praxair’s Q4 2015 earnings reports.
- Q4 reported corporate sales down -13% YoY and -3% sequentially, at $2.60bn.
- Total sales down -1% YoY, excluding currency and energy cost pass-through.
- Q4 corporate operating profit down -6% YoY and up marginally (under +1%), sequentially – up +5% YoY, excluding currency.
- Operating margin at 24% in Q4 was 180bp, 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. Also benefited from asset sale gain in North America.
- EBITDA margin up to over 35% of sales – up significantly YoY and sequentially.
- Still highest operating and EBITDA margins in industry.
- Reported ROE at nearly 35% – up nearly 600bp YoY.
- EPS down -7% across 2015.
- 2016 expectations for EPS growth of -2% to +5%, excluding currency, mostly driven by price, productivity and cost actions with downside volume risks on balance.
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