Free Research Report as Praxair’s Revenue Grew 8% and EPS Advanced 21.85%

Stock
Monitor: Valhi Post Earnings Reporting

LONDON, UK / ACCESSWIRE / November 27,
2017 / Active-Investors free earnings report on Praxair, Inc.
(NYSE: PX) has freshly been issued to its members, and you can also sign up to view
this report at www.active-investors.com/registration-sg/?symbol=PX.
The Company reported its third quarter fiscal 2017 operating results on October
26, 2017. The gas supplier outperformed top- and bottom-line expectations and
also provided guidance for the upcoming quarter and the fiscal year. Register
today and get free access to our complimentary member’s area where many more
reports are available: www.active-investors.com/registration-sg.

Active-Investors.com is currently
working on the research report for Valhi, Inc. (NYSE: VHI), which also belongs
to the Basic Materials sector as the Company Praxair. Do not miss out and
become a member today for free to access this upcoming report at: www.active-investors.com/registration-sg/?symbol=VHI.

Active-Investors.com
is focused on giving you timely information and the inside line on companies
that matter to you. This morning, Praxair most recent news is on our radar and
we have decided to include it on our blog post. Today’s free coverage is
available at: www.active-investors.com/registration-sg/?symbol=PX.

Earnings
Highlights and Summary

Praxair’s sales were
$2.92 billion in Q3 2017, 8% above the $2.72 billion reported in Q3 2016. After
adjusting for positive currency translation and cost pass-through, the
Company’s sales grew 6% on a y-o-y basis, driven by higher volumes across all
geographic segments including new project start-ups, growth in all end-markets,
and price attainment. Praxair’s revenue numbers topped analysts’ expectations
of $2.87 billion.

Praxair’s reported
operating profit surged 26% to $626 million in Q3 2017 compared to $497 million
in Q3 2016. Excluding the impact of transaction and other costs, the Company’s
adjusted operating profit advanced 8% to $642 million on a y-o-y basis. Praxair’s
operating profit as a percentage of sales was 21.4%, and adjusted operating
profit as a percentage of sales was 22.0%. The Company’s earnings before
interest, tax, depreciation, and amortization (EBITDA) margin was 32.0%, while
adjusted EBITDA margin was 32.6% in the reported quarter.

Praxair reported a net
income and diluted earnings per share (EPS) of $419 million and $1.45, respectively,
in Q3 2017 compared to a net income of $339 million, or $1.19 per diluted share,
in Q3 2016. The Company’s reported quarter results included transaction and
other costs of $0.05 diluted EPS, primarily related to the proposed merger with
Linde AG. Excluding this charge, Praxair’s adjusted net income and diluted EPS were
$433 million and $1.50, respectively, versus adjusted net income of $405
million, or $1.41 per share, in the year earlier same quarter. The Company’s
earnings beat Wall Street’s estimates of $1.44 per share.

Segment
Results

During Q3 2017, Praxair’s
North America segment’s sales were $1.52 billion, up 4% on a y-o-y basis,
excluding cost-pass through and currency translation. The segment’s sales
growth was driven mainly by stronger volumes to the electronics, aerospace,
metals, and food & beverage end-markets and higher price. The North America
segment’s operating profit was $386 million for the reported quarter, up 6% on a
y-o-y basis.

For Q3 2017, Praxair’s
Europe region segment’s sales were $407 million, 11% above the prior year’s
comparable quarter. Excluding currency and cost pass-through, the segment’s
sales grew 5% on a y-o-y basis, due to higher volumes, primarily led by the
metals, food & beverage, and manufacturing end-markets and higher price. The
Europe region segment’s operating profit was $78 million, 8% higher on a y-o-y
basis.

In Q3 2017, Praxair’s South
America segment’s sales grew 3% to $389 million on a y-o-y basis. Excluding
positive currency translation, this segment’s sales increased 2% versus the
prior year’s corresponding period, driven by higher volumes to chemicals and
metals end-markets and project start-ups. Praxair’s South America segment’s
operating profit was $63 million.

During Q3 2017, Praxair’s
Asia segment’s sales were $451 million, up 15% from the prior year’s same
period, driven by higher volumes in China, Korea, and India, project start-ups,
and a 2% price attainment, driven mostly by China. The segment’s operating
profit surged 29% to $88 million on a y-o-y basis.

Praxair’s Surface
Technologies segment had sales of $157 million in Q3 2017, up 4% excluding
positive currency impact. The sales growth was driven primarily by aerospace
coatings. The segment’s operating profit was $27 million in the reported quarter.

Cash
Matters

Praxair generated strong
third-quarter cash flow from operations of $794 million, or 27% of sales. After
capital expenditure of $320 million, the Company’s free cash flow was $474
million for the reported quarter, up 15% on a y-o-y basis. Praxair paid $225
million in dividends and net debt decreased by $202 million.

Outlook

For the fourth quarter of
FY17, Praxair is forecasting diluted EPS to be in the range of $1.45 to $1.50,
excluding transaction costs related to the proposed merger.

For the full-year FY17,
Praxair is estimating adjusted diluted EPS to be in the band of $5.78 to $5.83,
with the midpoint up $0.12 versus the previous guidance. The Company’s
full-year capital expenditure is expected to be approximately $1.4 billion.

Stock Performance Snapshot

November
24, 2017 – At Friday’s closing bell, Praxair’s stock marginally
rose 0.76%, ending the trading session at $152.88.

Volume traded for the
day: 807.79 thousand shares.

Stock performance in the
last month – up 6.45%; previous three-month period – up 15.45%; past twelve-month
period – up 28.78%; and year-to-date – up 30.45%

After last Friday’s
close, Praxair’s market cap was at $43.80 billion.

Price to Earnings (P/E)
ratio was at 27.19.

The stock has a dividend
yield of 2.06%.

The stock is part of the Basic
Materials sector, categorized under the Chemicals – Major Diversified industry.
This sector was up 0.3% at the end of the session.

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