Posted April 26, 2018

Praxair income jumps 19 percent

Praxair posted first-quarter net income of $462 million, an increase of 19 percent from $389 million in last year's first quarter.

Diluted earnings per share of $1.59 compared to $1.35 in the same period last year.

Sales in the quarter were $2.9 billion, 10 percent above the prior-year quarter. After adjusting for positive currency translation, sales grew 7 percent, driven by price attainment and higher volumes across all segments and end-markets.

"The 10 percent sales growth reflects solid recovery across all major end-markets and geographies, led by Asia and North America. As global industrial production rates continue to rise, we are well positioned to capture that growth and leverage it into higher operating margins," said Steve Angel, chairman and chief executive officer.

In North America, first-quarter sales were $1.6 billion, 7 percent above the prior-year quarter, driven primarily by higher price attainment and strong volumes in the manufacturing, chemicals and food and beverage end-markets.