Praxair Sales Down 12% in 2015 - Modern Distribution Management

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Praxair Sales Down 12% in 2015

Fourth quarter sales fall 13 percent year-over-year.

Praxair Inc. (NYSE: PX), Danbury, CT, reported sales for 2015 of $10.8 billion, a 12 percent decrease from 2014. Profit decreased 8.7 percent to $1.5 billion.

Sales for the fourth quarter were $2.6 billion, a 13 percent decrease from the same period a year ago. Profit for the quarter increased 39.7 percent to $422 million.

In North America, fourth-quarter sales were $1.4 billion, down 3 percent from the prior-year quarter excluding currency translation and cost pass-through. Organic sales growth from higher pricing and stronger volumes to refinery, food & beverage and healthcare customers was more than offset by weaker volumes in upstream energy, manufacturing and metals end-markets.

In Europe, fourth-quarter sales were $325 million, 9 percent below the prior-year quarter. In South America, sales decreased 37 percent to $299 million. Sales in Asia were $398 million in the quarter, 2 percent below the prior year quarter.

Praxair Surface Technologies had fourth-quarter sales of $152 million, down 7.9 percent from the prior-year quarter. 

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