NEW YORK (TheStreet) -- Praxair (PX) shares are down by 0.22% to $115.14 in early market trading on Wednesday, after the industrial gas supplier reported its second quarter results today.

The Danbury, CT-based company reported second quarter earnings of $1.45 per share which was in line with analysts' expectations for the period.

However, revenue fell 12% from the same period last year to $2.74 billion, missing analysts' $2.85 billion consensus estimates.

The company said that its weak revenue was the result of negative currency translation and weak industrial activity in Brazil and China.

Praxair issued downside current quarter earnings guidance between $1.42 per share and $1.49 per share versus analysts' $1.57 per share expectations.

The company also lowered its full year earnings guidance between $5.80 and $5.95 per share from its previous view between $5.90 and $6.15 per share.

Analysts are expecting the company to earn $5.99 per share for the year.

Separately, TheStreet Ratings team rates PRAXAIR INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate PRAXAIR INC (PX) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its expanding profit margins and notable return on equity. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."

Image placeholder title

PX

data by

YCharts