Praxair inches higher after mixed Q3 report


Praxair's (PX +0.2%) Q3 net income rose 4%, led by strong sales in North America and Europe, but the supplier of industrial gases reduced the high end of its full-year adjusted earnings forecast.

Sales in North America rose 14% Y/Y, while European sales increased 10%, sales in Asia added 8%, and South American sales slipped 4%; sales for the surface technologies segment climbed 2%.

PX now foresees FY 2013 adjusted EPS of $5.90-$5.95 vs. prior guidance of $5.90-$6 and analyst consensus of $5.95; it still expects revenue of ~$12B.

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