Praxair, Inc. is seeing strengthening global demand and economic recovery, reflected in second quarter sales growth of 24% against the prior year quarter and sequential increases in both sales and operating profit.
The company reported second-quarter (Q2) net income and diluted earnings per share of $371m and $1.19, respectively, both up 24% from Q2 2009.
At just over $2.5m, Q2 sales were 18% above the previous-year quarter. Sales increased due to double-digit volume growth in all geographic regions, led by South America and Asia – where Praxair has a strong foothold.
By end market, sales to chemicals, metals and electronics showed the strongest growth compared to the prior year. Compared to the Q1 2010, overall sales growth was 4% and broad-based across all major end-markets, Praxair notes.
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