Tier 1 company Praxair will continue to keep costs to a minimum, in the hope that the strategy will give it significant operating leverage as volumes improve.
Praxair reported third-quarter net income and diluted earnings per share of $325m and $1.04, respectively.
These results include a net after-tax benefit of $7m, or two cents of diluted earnings per share, resulting from a $306m pre-tax charge, and $313m of income tax benefits, related primarily to a Brazilian government tax amnesty programme.
Excluding these items, net income was $318m and diluted earnings per share were $1.02, as compared to $355m and $1.11 in the previous-year quarter.
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