Thursday, April 27, 2017

Earnings - Praxair(PX)

Praxair(PX) reported Q1 results with EPS of $1.35 on revenues of $2.7 billion. The company reported a huge 28% increase in operating cash flow to $710 million. For Q2 the company expects EPS of $1.38-1.43 and for 2017  $5.53-$5.78(GAAP). Shares are flat for the day. Here is what management had to say.

Chairman and Chief Executive Officer Steve Angel said, “Praxair employees once again delivered high-quality results through the execution of our core strategy. First quarter sales grew 9% versus prior year, primarily driven by higher organic volumes across all end-markets. By geographic segment, volume growth was attained in North America, Europe and Asia, partially offset by South America due to the challenging economic environment in Brazil. Furthermore, we maintained strong margins and increased our operating cash flow 28% year-over-year.

 The stock has just barely beaten the S&P 500 this year as it's up 7% vs 6.5%.

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