Praxair sees sales climb 12 percent in 4Q
Praxair said its sales in the fourth quarter were $2.9 billion, 12 percent above the prior-year quarter.
After adjusting for positive currency translation and cost pass-through, sales grew 8 percent, driven by price attainment and higher volumes across all geographic segments and end-markets.
Fourth-quarter net income was $33 million, or 11 cents per diluted share. These results include transaction costs of $14 million related to the proposed merger with Linde AG and a net income tax charge of $394 million related to the U.S. Tax Cuts and Jobs Act of 2017.
For full-year 2017, sales of $11.4 billion were up 9 percent. Net income of $1.2 billion, or $4.32 per share, compared to $1.5 billion, or $5.21 per share, in the previous year.
In North America, fourth-quarter sales were $1.5 billion, 9 percent above the prior-year quarter, excluding currency translation. Sales growth was driven primarily by stronger volumes to the downstream energy, manufacturing and electronics end-markets and higher price.
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