Posted October 28, 2011
Praxair sales up 14%
Praxair Inc. reported third-quarter sales were $2.89 billion, 14% above the previous-year quarter.
Sales increased across all geographic regions with strong growth from manufacturing, metals, energy and chemicals markets. Sales rose 1% sequentially from the second quarter due primarily to higher volumes. Net income was $429 million, or $1.40 per share.
In North America, third-quarter sales were $1.42 billion, up 11% from the prior-year quarter, primarily due to organic growth. Sales growth was strongest to manufacturing, energy, chemicals and metals markets. Operating profit of $350 million grew 11% from the prior year due primarily to higher volumes, price and productivity.
"We are continuing to see solid growth in all geographies with the exception of Europe. Proposal activity remains at healthy levels and our backlog of large customer projects under construction is at a record $2.7 billion, 25% above 2010 levels," said chairman and chief executive officer Steve Angel.
