Positive economic activity drives Praxair’s record Q2 2018 earnings


Praxair, Inc. reports Q2 net income of $480m, diluted earnings per share of $1.65 and makes big leaps with Linde merger.

Praxair’s sales in the second quarter were $3,061m, 8% above the prior-year quarter, driven by 2% higher pricing and 5% volume growth across all segments.

Second quarter reported operating profit was $689m, 14% above the prior-year quarter. Adjusted operating profit was $713m, 15% above last year. Reported and adjusted operating profit margins were 22.5% and 23.3%, respectively, improving from 21.4% and 21.9% in the prior-year quarter. For the second quarter, EBITDA margin was 33.1% and adjusted EBITDA margin was 33.9%.

The company generated second-quarter operating cash flow of $790m, 26% of sales. Capital expenditures were $351m, dividends paid were $237m and the company decreased net debt by $318m.

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