Citi Reports Clean 2Q For Praxair

According to Citi, Praxair PX reported 2Q EPS of $1.38, above the estimate of $1.36 and consensus of $1.37. Citi said that total operating profit of $627mm exceeded the $617mm forecast on solid volume growth of 5% driven by notable strength in South America (+7%) and Asia (+12%). “Volume growth was more moderate in North America (+4%) and Europe (flat). PX raised FY11 earnings guidance by 5¢ to $5.40-$5.50.” Praxair closed yesterday at $103.92.