Praxair (PX) Posts In-Line Q4 Earnings, Lags on Revenues

Praxair Inc.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 $34.1 billion market capitalization.

However, weak industrial activities in the U.S. as well as soft global economy might have adversely impacted the demand for Praxair's products in the fourth quarter. Also, 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 1.32%.

Praxair, Inc. Price and EPS Surprise

Praxair, Inc. Price and EPS Surprise | Praxair, Inc. Quote

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 $1.41 per share in fourth-quarter 2016. The bottom line result was in line with the Zacks Consensus Estimate.

Revenue: Revenues lagged. Praxair generated revenues of $2.644 billion, below the Zacks Consensus Estimate of $2.67 billion.

Key Stats to Note: In 2016, Praxair distributed approximately $856 million to shareholders in the form of dividends while repurchased shares worth $89 million.

Stock Price: Praxair shares were up 1.60% 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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