Praxair Inc. (PX - Free Report) engages in the production and distribution of industrial gases, primarily in North America, South America, Europe and Asia. Increased applications of industrial gases in industries like healthcare, petroleum refining, computer-chip manufacturing, beverage carbonation, fiber-optics, steel making, aerospace, chemicals and water treatment is a boon for the company. This Danbury, CT-based company has a $35.7 billion market capitalization.
However, the company face headwinds from unfavorable foreign currency movements, geopolitical issues and a competitive business environment.
Praxair delivered better-than-expected results in three of last four trailing quarters and in-line results in one, with a positive average earnings surprise of 1.67%.
Currently, PX has a Zacks Rank #3 (Hold), but that could definitely change after the release of its upcoming earnings report. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Praxair’s earnings came in at $1.46 per share in second-quarter 2017. The bottom line result came in above the Zacks Consensus Estimate of $1.43.
Revenues: Revenues surpassed. Praxair generated revenues of $2.834 billion, in-line with the Zacks Consensus Estimate of $2.83 billion.
Key Stats to Note: In the first quarter, Praxair distributed approximately $225 million to shareholders in the form of dividends.
Stock Price: Praxair shares were down 0.61% ahead of the report while no movement was recorded in the pre-market trading session.
Check back our full write up on this PX earnings report later!
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