Praxair Updates First-Quarter 2013 Earnings Guidance

Fri Mar 1, 2013 4:15pm EST

* Reuters is not responsible for the content in this press release.

DANBURY, Conn.--(Business Wire)--
Praxair, Inc. (NYSE: PX) announced that it expects the impact of the Venezuelan
government`s devaluation of the bolivar from 4.30 to 6.30 to result in an
estimated charge to net income of approximately $0.08 per diluted share in the
first quarter of 2013 due primarily to the remeasurement of the local Venezuelan
balance sheet to reflect the new official 6.30 exchange rate. 

The acquisition of NuCO2 INC. closed effective March 1, 2013 and is expected to
be neutral to Praxair`s first-quarter 2013 earnings per share. 

As a result of the Venezuela charge, first-quarter diluted earnings per share
are expected to be in the range of $1.27 to $1.32. Excluding this charge, the
company expects its first-quarter guidance to remain in the range of $1.35 to
$1.40 adjusted diluted earnings per share.* 

Praxair, Inc. is the largest industrial gases company in North and South
America, and one of the largest worldwide, with 2012 sales of $11 billion. The
company produces, sells and distributes atmospheric and process gases, and
high-performance surface coatings. Praxair products, services and technologies
are making our planet more productive by bringing productivity and environmental
benefits to a wide variety of industries including aerospace, chemicals, food
and beverage, electronics, energy, healthcare, manufacturing, metals and others.
More information on Praxair is available on the Internet at 

This document contains "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements are based on
management`s reasonable expectations and assumptions as of the date the
statements are made but involve risks and uncertainties. These risks and
uncertainties include, without limitation: the performance of stock markets
generally; developments in worldwide and national economies and other
international events and circumstances; changes in foreign currencies and in
interest rates; the cost and availability of electric power, natural gas and
other raw materials; the ability to achieve price increases to offset cost
increases; catastrophic events including natural disasters, epidemics and acts
of war and terrorism; the ability to attract, hire, and retain qualified
personnel; the impact of changes in financial accounting standards; the impact
of changes in pension plan liabilities; the impact of tax, environmental,
healthcare and other legislation and government regulation in jurisdictions in
which the company operates; the cost and outcomes of investigations, litigation
and regulatory proceedings; continued timely development and market acceptance
of new products and applications; the impact of competitive products and
pricing; future financial and operating performance of major customers and
industries served; the impact of information technology system failures, network
disruptions and breaches in data security; and the effectiveness and speed of
integrating new acquisitions into the business. These risks and uncertainties
may cause actual future results or circumstances to differ materially from the
projections or estimates contained in the forward-looking statements.
Additionally, financial projections or estimates exclude the impact of special
items which the company believes are not indicative of ongoing business
performance. The company assumes no obligation to update or provide revisions to
any forward-looking statement in response to changing circumstances. The above
listed risks and uncertainties are further described in Item 1A (Risk Factors)
in the company`s Form 10-K and 10-Q reports filed with the SEC which should be
reviewed carefully. Please consider the company`s forward-looking statements in
light of those risks. 

* Adjusted diluted earnings per share (EPS) guidance is a non-GAAP measure that
excludes the impact of the charges described above and is calculated below:

                                                Low End        High End      
 Expected first-quarter 2013 diluted EPS        $1.27          $1.32         
 Add: Venezuela currency devaluation            0.08           0.08          
 Adjusted diluted EPS guidance                  $1.35          $1.40         

Praxair, Inc.
Kelcey Hoyt, 203-837-2118
Jacqueline Hunt, 203-837-2663

Copyright Business Wire 2013


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