Praxair sales up 2%
Praxair reported first-quarter sales of $2.9 billion, an increase of 2% compared to the prior-year quarter.
Net income for the quarter was $391 million, or $1.30 per share.
In North America, first-quarter sales were $1.45 billion, 4% above the prior-year quarter. Acquisitions of packaged gas distributors and NuCO2, a United States micro-bulk carbon dioxide provider, contributed 3% growth. Total sales growth was strongest to energy, manufacturing and food & beverage customers.
In Europe, first-quarter sales were $370 million, down 2% versus the respective 2012 period. Sales were negatively impacted by lower industrial economic activity resulting in lower packaged gases volumes in Spain and Italy.
In South America, first-quarter sales were $531 million. Sales grew 3% from the prior-year quarter, excluding a 10% negative currency impact, primarily due to higher volumes and price.
Sales in Asia were $367 million in the quarter, up 10% from the prior year driven by volume growth in India, China, Korea and Thailand. Sales growth came primarily from metals and chemicals customers.