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Praxair (PX) Beats Earnings and Revenues Estimates in Q2
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Praxair Inc. (PX - Free Report) engages in the production and distribution of industrial gases. Praxair’s earnings came in at $1.72 per share in second-quarter 2018. The bottom-line result came in above the Zacks Consensus Estimate of $1.70.
Revenue: Praxair generated revenues of $3.06 billion in the second quarter. The top-line result came in above the Zacks Consensus Estimate of $3.03 billion.
Key Stats to Note: Praxair posted backlog of $1.7 billion in the second quarter, up around 13% year over year. The company won three new onsite projects and has started up China National Offshore Oil Corporation (CNOOC) project during the reported quarter. It also made substantial progress on the merger with Linde and achieved additional regulatory approvals. The company also agreed to sell the majority of its European business in order to gain EC approval regarding the merger.
Estimate Trend & Surprise History: Investors should note that the earnings estimate revisions for Praxair for the second quarter have remained stable ahead of the earnings release. The Zacks Consensus Estimate currently stands at $1.70 for the quarter.
Praxair delivered better-than-expected results in the last four trailing quarters, with a positive average earnings surprise of 3.69%.
Stock Price: Praxair’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back our full write up on this PX earnings report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Praxair (PX) Beats Earnings and Revenues Estimates in Q2
Praxair Inc. (PX - Free Report) engages in the production and distribution of industrial gases. Praxair’s earnings came in at $1.72 per share in second-quarter 2018. The bottom-line result came in above the Zacks Consensus Estimate of $1.70.
Revenue: Praxair generated revenues of $3.06 billion in the second quarter. The top-line result came in above the Zacks Consensus Estimate of $3.03 billion.
Key Stats to Note: Praxair posted backlog of $1.7 billion in the second quarter, up around 13% year over year. The company won three new onsite projects and has started up China National Offshore Oil Corporation (CNOOC) project during the reported quarter. It also made substantial progress on the merger with Linde and achieved additional regulatory approvals. The company also agreed to sell the majority of its European business in order to gain EC approval regarding the merger.
Praxair, Inc. Price and EPS Surprise
Praxair, Inc. Price and EPS Surprise | Praxair, Inc. Quote
Estimate Trend & Surprise History: Investors should note that the earnings estimate revisions for Praxair for the second quarter have remained stable ahead of the earnings release. The Zacks Consensus Estimate currently stands at $1.70 for the quarter.
Praxair delivered better-than-expected results in the last four trailing quarters, with a positive average earnings surprise of 3.69%.
Zacks Rank: Currently, Praxair carries a Zacks Rank #4 (Sell), 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.
Stock Price: Praxair’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back our full write up on this PX earnings report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>