Praxair Posts Higher Q2 Profit, Matches View - Quick Facts

(RTTNews) - Industrial gas producer Praxair, Inc.'s (PX) second-quarter net income advanced to $445 million, or $1.49 per share, from $429 million, or $1.42 per share, a year back. On average, 19 analysts polled by Thomson Reuters expected earnings per share of $1.49 for the quarter. Analysts' estimates typically exclude one-time items.

Sales in the latest quarter reached $3.01 billion, 7% above the prior-year figure of $2.81 billion. Strong volumes in Asia and South America were partially mitigated by lower volumes in Europe, whilst North American volumes were comparable with last year, the company added. Acquisitions contributed 3% growth in the quarter. Analysts estimated revenues of $3.00 billion for the quarter.

Looking ahead, Praxair sees earnings per share of $1.48 - $1.53 for the third quarter of 2013, while expecting adjusted earnings per share of $5.90 - $6.00 for 2013. These estimates are based on current foreign exchange rates for our international businesses, which on a weighted basis are 3% weaker than January when we initially gave earnings guidance for 2013. They also exclude an expected pension settlement charge in the third quarter of about $9 million. Full-year sales are anticipated in the area of $12 billion. Analysts project earnings per share of $1.54 for the third quarter, and $5.96 for the year.

Further, the board declared a quarterly dividend of $0.60 per share, payable on September 16, 2013 to shareholders of record on September 6, 2013.