Praxair Inc. (NYSE: PX), Danbury, CT, reported sales for the second quarter of $2.7 billion, a 2.7 percent decrease year-over-year. Profit increased 29.5 percent to $399 million.
In North America, second-quarter sales were $1.4 billion, down 5 percent from the prior-year quarter. In Europe, second-quarter sales were $355 million, 7 percent above the prior-year quarter.
In South America, second-quarter sales decreased 8 percent year-over-year to $358 million. Sales in Asia were $393 million in the quarter, 2 percent above the prior year. Praxair Surface Technologies had second-quarter sales of $148 million, a decrease of 1.3 percent compared to the prior-year quarter.
"Praxair’s industrial gas businesses in Asia, Europe and South America grew volumes while benefitting from new on-site project start-ups," said CEO Steve Angel. "However, North America volumes experienced further declines due to weaker upstream energy and U.S. manufacturing activity."
Year to date, the company reported sales of $5.2 billion, down 5.8 percent from the same period a year ago. Profit increased 4.3 percent to $724 million.
