Praxair Issues Q2 Earnings View; Updates FY17 Earnings Forecast - Quick Facts

(RTTNews) - Industrial gas maker Praxair Inc. (PX) Thursday said it expects second-quarter earnings per share in the range of $1.38 to $1.43, excluding transaction costs related to the potential merger.

For full-year 2017, Praxair now expects adjusted earnings per share to be in the range of $5.55 to $5.80. On a reported basis, earnings per share are expected to be in the range of $5.53 to $5.78.

Praxair previously expected full-year earnings per share to be in the range of $5.45 to $5.80, 2% to 9% growth excluding currency versus 2016.

This is compared to fiscal 2016 earnings per share of $5.21, and adjusted earnings of $5.48.

Chairman and Chief Executive Officer Steve Angel said, "As we look to the remainder of the year, we anticipate improved base volume growth in-line with the current macro-economic environment. New project opportunities, specifically in the U.S. Gulf Coast, continue to be a bright spot as bidding activity remains robust. Based on our competitive advantage in the region, we remain confident in our ability to win additional projects."

Separately, Praxair said its Board has declared a quarterly dividend of 78.75 cents per share, unchanged from the previous quarter. The dividend is payable on June 15 to shareholders of record on June 7.