gasworld Business Intelligence provides you with the latest analysis of Praxair’s Q3 2016 earnings reports.
- Q3 reported corporate sales improved to +1% YoY and up +2% sequentially at $2.7bn.
- Total sales were up +2% YoY, excluding currency, but helped by +1% net impact from acquisitions.
- Q3 corporate operating profit down -3.5% YoY.
- Charge of $96m in Q3 for further cost reduction actions.
- Operating margin remained at 22% in Q3 and was 110bp down on previous year.
- EBITDA margin was down sequentially and YoY to below 33%.
- Selling, general and administration costs (SG&A) were up +3.5% in Q3, despite weak activity.
- Lost position of highest operating and EBITDA margins in industry to Air Products in recent quarters.
- Reported ROE slipped to 33% in Q3, but up 80bp YoY.
- EPS down -3.5% YoY. Expectations for 2016 EPS growth marginally reduced since Q2 with an estimated currency headwind of -3%.
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