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Praxair Q3 profit climbs 6.1% YOY

Praxair Inc. said its third-quarter normalized net income came to $1.27 per share, compared with the S&P Capital IQ consensus estimate of $1.44 per share.

EPS increased 5.7% year over year from $1.20.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $365.9 million, an increase of 6.1% from $345.0 million in the prior-year period.

The normalized profit margin declined to 12.5% from 12.7% in the year-earlier period.

Total revenue rose 7.6% year over year to $2.92 billion from $2.72 billion, and total operating expenses climbed 7.5% year over year to $2.28 billion from $2.12 billion.

Reported net income grew 23.3% year over year to $419.4 million, or $1.45 per share, from $340.1 million, or $1.18 per share.