Praxair sales up 5%
Praxair announced full-year 2012 reported net income of $1.69 billion and reported diluted earnings per share of $5.61.
Full-year sales increased 5% to $11.2 billion. The increase was driven by higher volumes, higher pricing and productivity, partially offset by currency translation effects, the company said.
During the year, Praxair spent $280 million on acquisitions of 17 North American packaged gas distributors and an industrial gas business in Russia.
For the fourth quarter, net income was $414 million, or $1.38 per share. Sales in the fourth quarter were $2.79 billion, comparable to the prior year, as higher price and acquisitions were offset by negative currency effects.
“As we enter 2013, Praxair remains committed to driving performance in an uncertain economic environment. In addition, our backlog of large projects remains strong at $2.6 billion and new proposal activity remains solid. This backlog will contribute 4% to 6% growth in 2013, as the plants start up to supply on-site customers under long-term contracts,” said chairman and chief executive officer Steve Angel.
For the full year of 2013, Praxair expects sales in the area of $12 billion.
INDUSTRIAL SUPPLY MAGAZINE
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