Praxair Sales Rise 2.9 percent in 2014 - Modern Distribution Management

Praxair Sales Rise 2.9 percent in 2014

Year-to-date profit falls 3.5 percent from 2013.

Praxair Inc. (NYSE: PX), Danbury, CT, reported full-year sales for 2014 of $12.3 billion, a 2.9 percent increase from 2013. Profit decreased 3.5 percent to $1.7 billion.

Sales for the fourth quarter were slightly less than $3 billion, a 0.7 percent decrease from the same period a year ago, with organic sales growth of 2 percent being driven by higher pricing and growth in merchant and packaged gas volumes. Profit for the quarter decreased 36.3 percent to $302 million.

In North America, fourth-quarter sales were $1.6 billion, up 1.4 percent from the prior-year quarter. Organic sales growth of 2 percent was driven by higher pricing and growth in merchant and packaged gas volumes. Acquisitions of U.S. packaged gas distributors contributed 1 percent growth. Operating profit of $388 million grew 2 percent from the prior year, excluding negative currency translation, primarily due to higher volumes, higher price and acquisitions.

In Europe, fourth-quarter sales were $356 million, 11.9 percent below the prior-year quarter. Excluding currency, cost passthrough and net divestitures, organic sales were 1 percent below prior year due primarily to weaker sales in Northern Europe. Operating profit was $63 million.

In South America, fourth-quarter sales were $473 million, 2 percent below the prior-year quarter. Organic sales, excluding negative currency translation, grew 8 percent primarily from growth to food and beverage and healthcare end-markets. Operating profit was $105 million, above the prior-year quarter excluding currency translation, due primarily to volume growth and higher pricing.

Sales in Asia were $407 million in the quarter, 3.3 percent above the prior year, driven by volume growth in on-site, including new plant start-ups, and merchant. Operating profit was $77 million as compared to $80 million in the prior year

Praxair Surface Technologies had fourth-quarter sales of $165 million as compared to $164 million in the prior-year quarter. Organic sales grew 1 percent due to favorable pricing. Overall volumes were comparable to the prior-year period. Operating profit was $30 million as compared to $27 million in the prior year.

“Looking forward to 2015, we expect modest global growth," said President and CEO Steve Angel. "More than half of our sales are generated in North America and … we will continue to take advantage of the underlying economic strengths of the region."

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!