UPDATE 3-Praxair profit beats, but forecast is below Street

* Q3 EPS $1.40 vs Wall Street view $1.39

* Revenue up 14 percent to $2.89 billion

* Forecasts Q4 EPS below Wall Street view

* Shares slightly lower

By Ernest Scheyder

Oct 26 (Reuters) - Praxair Inc , the largest industrial gas supplier in North America, reported a slightly higher-than-expected quarterly profit on strong sales to manufacturers and chemical producers.

The company, though, issued a fourth-quarter forecast below the average Wall Street forecast, citing an expected dent from foreign currency conversion.

"We are continuing to see solid growth in all geographies with the exception of Europe," Chief Executive Steve Angel said in a statement.

For the third quarter, Praxair posted net income of $429 million, or $1.40 per share, up from $377 million, or $1.21 per share, a year earlier.

Analysts on average expected $1.39 per share, according to Thomson Reuters I/B/E/S.

Revenue rose 14 percent to $2.89 billion. Analysts expected $2.83 billion.

For the fourth quarter, Praxair said it expects to earn $1.33 to $1.38 per share. Analysts expect $1.39.

Praxair sells oxygen, argon and related materials. Rivals include Airgas and Air Products .

Shares of Praxair slipped 28 cents to $101.37 in Wednesday morning trading. The stock has gained 6 percent thus far this year.