Praxair has released ‘high-quality’ results for the first quarter of 2017, thanks to the successful execution of its core strategy and higher organic volumes across all end-markets
The company has reported Q1 net income and diluted earnings per share of $389m and $1.35, respectively. These results include transaction costs of $6m after-tax, or 2 cents of diluted earnings per share, related to the potential Linde AG merger. Excluding this charge, adjusted net income and diluted earnings per share were $395m and $1.37, respectively.
Praxair’s sales in Q1 were $2,72bn, 9% above the prior-year quarter, up 6% excluding higher cost pass-through and positive currency translation effect. Sales growth was primarily driven by higher volumes in North America, Europe and Asia and included new project start-ups. By end-market, sales growth was led by the metals, downstream energy, chemicals and electronics sectors.
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