Praxair Narrows Full-year Earnings Outlook
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PX
DANBURY, Conn. (AP) Industrial gas maker Praxair Inc. on Wednesday narrowed its full-year earnings guidance and cut its sales forecast, citing weaker demand in the difficult economy.
The company said it now expects a 2009 profit between $3.85 and $4.15 per share. It expects sales of about $9 billion. Previously, the company forecast a profit of $3.80 per share to $4.20 per share and sales of $9.5 billion to $10 billion. Analysts surveyed by Thomson Reuters call for a full-year profit of $3.99 per share on $10 billion in sales, on average. Praxair also offered an earnings outlook for the second quarter of between 95 cents per share and $1 per share. Wall Street calls for $1 per share. The Danbury, Conn., company did not issue a second-quarter revenue guidance. Praxair also posted a decline in its first-quarter profit on Wednesday. Shares closed Tuesday at $71.47.- Loading Comments...
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