Praxair Inc (NYSE:PX). (PX) 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 $33.8 billion market capitalization.
However, weak industrial activities in the U.S. as well as soft global economy in the second-quarter 2016 might have adversely impacted the demand for Praxair’s products. Also, the company face headwinds from unfavorable foreign currency movements, geopolitical issues and a competitive business environment.
Praxair delivered better-than-expected results in two of last four trailing quarters and in-line results in the rest, with a positive average earnings surprise of 0.75%.
Currently, PX has a Zacks Rank #4 (Sell), but that could definitely change after the release of its upcoming earnings report. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Praxair’s adjusted earnings came in at $1.39 per share in second-quarter 2016. The bottom line result was above the Zacks Consensus Estimate of $1.35 per share.
Revenue: Revenues surpassed. Praxair generated revenues of $2.665 billion, above the Zacks Consensus Estimate of $2.61 billion.
Key Stats to Note: Praxair distributed approximately $214 million to shareholders in the form of dividends while repurchased shares worth $51 million.
Stock Price: Praxair shares were down 0.04% 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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