Strong prices for industrial gases helped US firm Praxair Inc. overcome a sluggish economy, to report an increase in first-quarter earnings.
Praxair reported an 8.8% rise in net income of US$ 124 mil…
Strong prices for industrial gases helped US firm Praxair Inc. overcome a sluggish economy, to report an increase in first-quarter earnings. Praxair reported an 8.8% rise in net income of US$ 124 million, or 76 cents a diluted share, compared with US$ 114 million, or 71 cents a share, in the year-earlier quarter. Sales rose 8.5% to US$ 1.34 billion from US$ 1.23 billion a year ago. The company said good demand outside the US helped to drive its results, as did strong pricing for its gas products, used for such things as steelmaking, oil and gas drilling and carbonating sodas. Negative foreign-currency translations decreased net income by US$ 9 million in the quarter.