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Praxair Inc. (PX) Tops Q1 Earnings and Revenues, View Solid

Zacks Equity Research
Updated

Praxair Inc. PX engages in the production and distribution of industrial gases, primarily in North America, South America, Europe and Asia. Increased applications of industrial gases in industries like healthcare, petroleum refining, computer-chip manufacturing, beverage carbonation, fiber-optics, steel making, aerospace, chemicals and water treatment is a boon for the company. This Danbury, CT-based company has a $43 billion market capitalization.

However, the company face headwinds from unfavorable foreign currency movements, geopolitical issues and a competitive business environment.

Praxair delivered better-than-expected results in the last four trailing quarters, with a positive average earnings surprise of 3.00%.

Praxair, Inc. Price and EPS Surprise
 

Praxair, Inc. Price and EPS Surprise | Praxair, Inc. Quote

Currently, Praxair carries a Zacks Rank #3 (Hold), but that could definitely change after the release of its upcoming earnings report. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here. We have highlighted some of the key stats from this just-revealed announcement below:
 
Earnings: Praxair’s earnings came in at $1.65 per share in first-quarter 2018. The bottom line result came in above the Zacks Consensus Estimate of $1.56.

Revenue: Revenues surpassed. Praxair generated revenues of $2,999 million. The top-line result came in above the Zacks Consensus Estimate of $2.93 billion.
 
Key Stats to Note: For the second quarter of 2018, Praxair anticipates earnings per share to be within $1.67-$1.72 range. Merger of the company with Linde is anticipated to be complete in the second half of 2018.

Stock Price: Praxair shares were up 2% ahead of the report.

Check back our full write up on this PX earnings report later!

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Praxair, Inc. (PX) : Free Stock Analysis Report
 
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Zacks Investment Research