Praxair (PX) Reports Q3 EPS of $1.50; FY17 EPS Guidance Raised

Praxair (NYSE: PX) reported Q3 EPS of $1.50. Revenue for the quarter came in at $2.9 billion.

Solid financial performance

• Sales of $2.9 billion, 8% above prior-year quarter
• $0.8 billion of operating cash flow or 27% of sales
• Record free cash flow of $0.5 billion, 15% above prior-year quarter
• EPS of $1.45; adjusted EPS of $1.50
• Raised full-year adjusted EPS guidance

Execution of our core strategy

• Volume growth +5%, price attainment +1% vs. prior-year quarter
• Backlog $1.5 billion; includes four new project wins in the U.S. and Asia

Continued progress on merger with Linde AG

• Strong Praxair shareholder support in favor of merger with Linde AG; 99% of votes cast approved the deal
• German offer minimum acceptance threshold lowered to 60%; offer period extended through November 7, 2017

Praxair sees FY2017 EPS of $5.78-$5.83.

For earnings history and earnings-related data on Praxair (PX) click here.

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