Posted April 27, 2011
Praxair sales up 11%
Praxair reported first quarter sales of $2.7 billion, 11% above the previous-year quarter, due primarily to broad-based volume growth.
Sales increased across all geographic regions with strongest growth from manufacturing, metals, chemicals and electronics markets. Sales rose 3% sequentially from the fourth quarter of 2010 due to higher volumes and price.
The company had net income of $398 million, or $1.29 per share, 17% and 18% above the prior-year quarter, respectively.
In North America, first-quarter sales were $1.3 billion, up 8% from the prior-year quarter. Volumes were 6% above the prior year largely attributable to higher sales to manufacturing, chemicals, metals and energy markets. Operating profit of $322 million grew 16% from the prior year due primarily to higher volumes and productivity.
For the full year of 2011, Praxair expects sales in the area of $11 billion.
