Praxair sales up 2%
Praxair reported first-quarter sales of $2.9 billion, an increase of 2% compared to the prior-year quarter.
Net income for the quarter was $391 million, or $1.30 per share.
In North America, first-quarter sales were $1.45 billion, 4% above the prior-year quarter. Acquisitions of packaged gas distributors and NuCO2, a United States micro-bulk carbon dioxide provider, contributed 3% growth. Total sales growth was strongest to energy, manufacturing and food & beverage customers.
In Europe, first-quarter sales were $370 million, down 2% versus the respective 2012 period. Sales were negatively impacted by lower industrial economic activity resulting in lower packaged gases volumes in Spain and Italy.
In South America, first-quarter sales were $531 million. Sales grew 3% from the prior-year quarter, excluding a 10% negative currency impact, primarily due to higher volumes and price.
Sales in Asia were $367 million in the quarter, up 10% from the prior year driven by volume growth in India, China, Korea and Thailand. Sales growth came primarily from metals and chemicals customers.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
