28 July 2016
DETAILS
- Sales of $2.7 billion; EPS of $1.39
- Operating and EBITDA margins of
22.1% and 33.0%, respectively - Strong operating cash flow of $0.7 billion,
26% of sales - Completed European carbon dioxide acquisition
primarily serving food and beverage
end-market and purchased remaining interest
in Scandinavian joint venture - Return on capital 12.2%;
return on equity 34.0%
Praxair, Inc. (NYSE: PX) reported second-quarter
net income and diluted earnings per share of
$399 million and $1.39, respectively.
For full-year 2016, Praxair expects
adjusted diluted earnings per share
to be in the range of $5.45 to $5.60.
This guidance assumes
a negative currency translation impact of approximately
3% year over year.
This full-year guidance excludes a $0.05 per share impact
of a bond redemption charge taken i
n the first quarter and a pension settlement
expected to be recorded in the third quarter.
As a result, GAAP diluted earnings per share
is expected to be in the range of $5.40 to $5.55.
Full-year capital expenditures are expected
to be approximately $1.4 billion.
Steve Angel
Chairman and Chief Executive Officer
“Praxair’s industrial gas businesses in
Asia, Europe and South America grew volumes
while benefitting from new on-site project start-ups.
However, North America volumes experienced
further declines due to weaker upstream energy
and U.S. manufacturing activity.
Globally, consumer-related end-markets
remained healthy and we completed
a synergistic European carbon dioxide acquisition
that will further expand
our food and beverage end-market exposure.
“Praxair’s strategy of
* optimizing the base business,
* growing resilient end-markets,
* executing the project backlog and
* capitalizing on acquisition and project opportunities
continues to drive strong value creation.
During the second quarter, these efforts by
Praxair employees resulted in
robust operating cash flow generation
at 26% of sales, and
in a mixed macro-economic environment,
delivered solid operating and EBITDA margins
of 22.1% and 33.0%, respectively.
VIEW PRAXAIR FULL PRESENATATION
WWW.CHEMWINFO.COM BY KHUN PHICHAI
