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Exhibit 99.1
Praxair Reports Third-Quarter 2018 Results
Financial Highlights
| Sales $3.0 billion, up 3% above prior-year quarter, includes -4% FX headwind |
| Operating profit $0.7 billion, 6% above prior-year quarter, adjusted operating profit 8% higher |
| EPS $1.58, up 9% versus prior-year quarter, adjusted EPS $1.69, 13% above prior-year quarter |
| Strong operating cash flow of $0.9 billion, 29% of sales |
| Return on Capital 11.3%, Adjusted Return on Capital 14.1% |
| Backlog $2.2 billion, up $0.5 billion sequentially |
- Won four new onsite projects, three in the U.S.
The third quarter earnings presentation can be found at: www.praxair.com/investor-relations.
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>> About Praxair
Praxair, Inc., a wholly-owned subsidiary of Linde plc, is a leading industrial gas company in North and South America and one of the largest worldwide. With market capitalization of approximately $40 billion and 2017 sales of $11 billion, the company employs over 26,000 people globally and has been named to the Dow Jones® World Sustainability Index for 16 consecutive years. Praxair produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Our products, services and technologies are making our planet more productive by bringing efficiency and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, primary metals and many others. For more information about the company, please visit our website at www.praxair.com.
This document is only controlled while on the Praxair, Inc. website and a copy of this controlled version is available for download. Praxair cannot assure the integrity or accuracy of any version of this document after it has been downloaded or removed from our website.
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Praxair Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:
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The non-GAAP measures in the following reconciliations are presented in the MD&A.; Adjusted Amounts EBITDA, Adjusted EBITDA, EBITDA Margin and Adjusted EBITDA Margin These measures are used by investors, financial analysts and management to assess a companys profitability.
Excluding currency effects in the quarter and nine-month periods, SG&A; was higher driven by cost inflation partially offset by cost reduction actions.
Cash dividends of $712 million were higher than the prior year due to a 5% increase in quarterly dividends per share from 78.75 cents per share to 82.5 cents per share.
Volume growth contributed 4% to sales in both the quarter and nine-month periods primarily driven by higher volumes in North America and Asia, including new project start-ups.
Non-GAAP Financial Measures The following non-GAAP measures are intended to supplement investors understanding of the companys financial information by providing measures which investors, financial analysts and management use to help evaluate the companys financial leverage and operating performance.
Excluding these charges, adjusted operating...Read more
Gross margin increased $40 million,...Read more
Asia segment operating profit increased...Read more
The increase in the third...Read more
The increase in EBITDA and...Read more
Higher overall pricing across all...Read more
Depreciation and amortization expense increased...Read more
Currency translation impact decreased sales...Read more
Investing Net cash used for...Read more
Definitions of these non-GAAP measures...Read more
The adverse translation adjustments reflect...Read more
Higher price increased sales by...Read more
Sales growth was strongest in...Read more
Excluding currency effects, depreciation and...Read more
Excluding currency and cost pass-through,...Read more
Surface Technologies segment operating profit...Read more
Excluding currency, operating profit increased...Read more
Effective July 1, 2018, Argentina...Read more
Consolidated Results Outlook Results of...Read more
Asia The following tables provide...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Praxair Inc provided additional information to their SEC Filing as exhibits
CIK: 884905
Form Type: 10-Q Quarterly Report
Accession Number: 0000884905-18-000090-2
Submitted to the SEC: Fri Nov 09 2018 8:08:14 AM EST
Accepted by the SEC: Fri Nov 09 2018
Period: Sunday, September 30, 2018
Industry: Industrial Inorganic Chemicals