Praxair (PX)

Q4 2010 Earnings Call

January 26, 2011 11:00 am ET


James Sawyer - Chief Financial Officer and Executive Vice President

Kelcey Hoyt - Director of Investor Relations


Mark Gulley - Soleil Securities Group, Inc.

David Begleiter - Deutsche Bank AG

Michael Sison - KeyBanc Capital Markets Inc.

Donald Carson - Susquehanna Financial Group, LLLP

John McNulty - Crédit Suisse AG

Michael Harrison - First Analysis

Edward Yang - Oppenheimer & Co. Inc.

Laurence Alexander - Jefferies & Company, Inc.

Kevin McCarthy

P.J. Juvekar - Citigroup Inc



Good day, ladies and gentlemen, and welcome to the Fourth Quarter 2010 Praxair Inc. Earnings Conference Call. My name is Lacy, and I will be your coordinator for today. [Operator Instructions] I would now like to turn the presentation over to your host for today's call, Mr. Jim Sawyer, Executive Vice President and CFO. Please proceed.

James Sawyer

Good morning, and thank you for attending our fourth quarter earnings call and webcast. I am joined this morning by Liz Hirsch whom you will recall was appointed Vice President and Controller of the Corporation in December; and Kelcey Hoyt, our new Director of Investor Relations. Today's presentation materials are available on our website at in the Investors section. Please read the forward-looking statement disclosure on Page 2 and note that it applies to all statements made during the teleconference.

I'm going to start this morning with an overview of our full year results for 2010. Kelcey will then review our fourth quarter results. Afterwards, I will discuss our current business trends outlook and our earnings guidance for 2011. We'll then be available to answer questions.

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