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Praxair's 1st-Quarter Net Slips 6.7% on Venezuelan Devaluation Impact

Praxair Inc.'s (PX) first-quarter income slipped 6.7%, as the maker of industrial gases was hit by a charge tied to the remeasurement of its local Venezuelan balance sheet, although revenue edged up.Praxair narrowed its view for the year, now expecting adjusted per-share earnings of $5.90 to $6.05 versus its prior view of $5.85 to $6.10.The results come after last month, Praxair disclosed results for the first quarter would be hit by the charge, reflecting the new official exchange rate after Venezuela--which faces a hefty budget deficit in the wake of a government-led spending boom--said it plans to sharply lower the value of the local currency, known as the bolivar. Stripping out the charge, per-share earnings were flat.The largest industrial gas company in the Americas has seen its top line pressured by weak macroeconomic conditions and significant foreign currency headwinds, with Chief Executive Steve Angel earlier this year pointing to recessions in Brazil and Europe, moderating g...

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  2. Praxair's 3rd-Quarter Net Flat as Revenue and Costs Both Fall

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  3. Praxair Posts Profit Gain, Sees Near-term Weakness

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  8. Praxair 2Q Results: Postgame Scorecard

    While revenue slowed, Praxair's (NYSE:PX) profit still increased in the most recent quarter.Earnings and Revenue The company's EPS fell in line with analyst expectat...

  9. Praxair 2nd Quarter Net Edged Up, Lowers Guidance

    Praxair Inc.'s (PX) second-quarter profit edged up 0.9% as the industrial-gas supplier saw its North American sales and margins grow.The company cut its full-year ea...

  10. Praxair 2Q Earnings Pregame Scorecard

    Having exceeded expectations last quarter by 2 cents per share, Praxair (NYSE:PX) is scheduled to report again on Wednesday.ExpectationsAnalysts currently expect Pra...

  11. Praxair Increasing Prices On Nitrogen, Other Gases Starting June 1

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  1. Praxair to Record 1st-Quarter Charge on Venezuela Devaluation

    Praxair Inc. (PX) said it expects to record a charge in the first-quarter related to Venezuela's recent devaluation of its currency, the latest U.S. company anticipa...

  2. Praxair , Discover Bank Lead Corporate Bond Issues

    Industrial-gas company Praxair Inc. (PX) and Utah-based Discover Bank found a favorable backdrop to sell bonds Wednesday, pushing weekly issuance toward the higher e...

  3. Praxair Buys Soda Carbonator NuCO2 for $1.1B

    Praxair (NYSE:PX) inked a deal on Tuesday to buy beverage carbonator NuCO2 from Los Angeles-based private equity firm Aurora Capital Group for $1.1 billion as it loo...

  4. Praxair Agrees to Buy Beverage Carbonator NuCO2 for $1.1 Billion

    Praxair Inc. (PX) has agreed to buy beverage carbonator NuCO2 Inc. from private-equity firm Aurora Capital Group for $1.1 billion in cash as the industrial gases com...

  5. MARKET SNAPSHOT: Debt-ceiling Vote, Earnings Pin Down Stock Futures

    U.S. stock-market futures pointed to a mostly flat start for Wall Street on Wednesday ahead of data expected to show home prices rising again, and before a vote on e...

  6. Praxair's 4th-Quarter Net Down 1.4% on Weak Europe, South America Sales

    Praxair Inc.'s (PX) fourth-quarter income edged down 1.4%, as the maker of industrial gases recorded flat sales driven by weaknesses in Europe and South America.For ...

  7. Praxair Earnings Meet Views, Lifts Dividend

    Industrial-gas provider Praxair Inc. said on Wednesday that net income for the fourth quarter fell to $414 million from $420 million in the year-ago-period. Earnings...

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