Pharma Industry
Industry: Email Alert RSS FeedPraxair's Strong First Quarter Reflects a Booming Gases Market
Chemical Market Reporter, May, 1997 by CHANG, JOSEPH
ON THE HEELS OF Praxair Inc.'s strong first quarter, where earnings per share surged 32 percent year over year on a 6.2 percent sales gain, Salomon Brothers analyst Timothy Gerdeman has bumped up 1997 and 1998 earnings estimates 5 cents each to $2.65 and $3.10, respectively, due to solid fundamentals in the industrial gas industry.
On its first quarter conference call, the company said that industrial gas demand and pricing remains very encouraging. "It is important to Understand that the increased consumption of industrial gas is largely from new applications, rather than being solely related to select pockets of economic strength around the world," says Mr. Gerdeman. Carbon dioxide supply conditions going into the peak demand summer season appear to be...
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