Praxair Inc. said its normalized net income for the second quarter amounted to $1.23 per share, compared with the S&P Capital IQ consensus estimate of $1.42 per share.
EPS climbed 5.4% year over year from $1.17.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $356.0 million, an increase of 5.7% from $336.9 million in the prior-year period.
The normalized profit margin fell to 12.6% from 12.6% in the year-earlier period.
Total revenue rose 6.3% on an annual basis to $2.83 billion from $2.67 billion, and total operating expenses increased 6.6% from the prior-year period to $2.22 billion from $2.08 billion.
Reported net income rose from the prior-year period to $406.8 million, or $1.41 per share, from $399.9 million, or $1.39 per share.