Praxair Reports First-Quarter 2011 Results

Praxair PX reported first-quarter net income and diluted earnings per share of $398 million and $1.29, 17% and 18% above the prior-year quarter, respectively*. Sales in the first quarter were $2,702 million, 11% above the previous-year quarter, due primarily to broad-based volume growth. Sales increased across all geographic regions with strongest growth from manufacturing, metals, chemicals and electronics markets. Sales rose 3% sequentially from the fourth quarter of 2010 due to higher volumes and price. Operating profit in the first quarter was $591 million, up 17% from the prior-year quarter due to higher volumes, higher price and productivity.* Earnings before interest, taxes, depreciation and amortization (EBITDA) of $844 million grew by 14% from the prior-year period.*