Posted July 26, 2018

Praxair posts 8 percent sales gain

Praxair reported sales in the second quarter were $3.06 billion, 8 percent above the prior-year quarter, driven by 2 percent higher pricing and 5 percent volume growth across all segments.

Second-quarter net income of $480 million and diluted earnings per share of $1.65 compared to income of $406 million and $1.41 in the year-ago period. 

“We continue to see positive economic activity, primarily in Asia and North America where overall business sentiment remains high. This led to strong sales growth across all geographic segments and supported a project backlog increase to $1.7 billion from new on-site wins in electronic and chemical end-markets," said Steve Angel, chairman and chief executive officer.

In North America, second-quarter sales were $1.6 billion, 6 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.