Praxair, Inc. ( PX ) is the largest industrial gases company in North and South America, and one of the largest worldwide. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings. Praxair products, services and technologies bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others.
The company’s leading market position in North and South America should support long-term growth.
Fourth-quarter earnings per share of 98 cents outpaced the consensus estimate by 2% and surpassed the previous year’s 82 cents. For the full year, PX posted earnings per share of $3.62, topping the year-prior $3.00.
Commenting on the year’s results and business outlook, Chairman and Chief Executive Officer Steve Angel said, “We finished an outstanding year with a strong fourth quarter. Sales growth was robust globally, led by South America and Asia. We leveraged sales growth into record earnings due to our intensive focus on pricing, productivity, and capital and operational discipline. Demand for new energy supplies, tightening environmental regulations, and infrastructure development in emerging markets will continue to drive significant new business opportunities for Praxair globally.
Praxair also recently declared a quarterly dividend of 37.5 cents per share, a 25% increase from the previous quarter. The dividend is payable on March 17, 2008 to shareholders of record on March 7, 2008.
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$80.59 (01/30/08)
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