Praxair Inc. has revealed its third-quarter earnings rose by 23% as a result of new business overseas and better pricing, with earnings increased to $305m or 94 cents per share.
The new results compare favourably to figures of $247m or 75 cents per share in the corresponding quarter last year, while revenue rose 13% from $2.1bn to $2.37bn.
Analysts had reportedly expected a profit of 91 cents per share on revenue of $2.35bn, and in the wake of the results announcement the company attributed sales growth to new business and project start-ups in Asia and South America, as well as growth in North America.
According to Steve Angel, chairman and CEO, an increase in new business for Praxair reflects “infrastructure development in Asia and South America, and an abundance of projects in energy markets in the Americas”.
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