Praxair, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year to Date Ended of December 31, 2016; Provides Earnings Guidance for the First Quarter and Full Year of 2017
For the year to date, the company reported sales of $10,534 million compared to $10,776 million a year ago. Operating profit was $2,238 million compared to $2,321 million a year ago. Income before income taxes and equity investments was $2,048 million compared to $2,160 million a year ago. Net income attributable to the company was $1,500 million compared to $1,547 million a year ago. Diluted earnings per share were $5.21 compared to $5.35 a year ago. Net cash provided by operating activities was $2,733 million compared to $2,695 million a year ago. Capital expenditures were $1,465 million compared to $1,541 million a year ago. Adjusted net income attributable to the company of $1,576 million compared to 1,677 million a year ago. Adjusted Diluted Eps was $5.48 compared to $5.80 a year ago.
For full-year 2017, the company expects diluted earnings per share to be in the range of $5.45 to $5.80, 2% to 9% growth excluding currency against of 2016. This guidance assumes a negative currency impact of approximately 3%. Capital expenditures are expected to be approximately $1.4 billion and the effective tax rate is forecast to remain at approximately 28%.
For the first quarter of 2017, the company expects diluted earnings per share in the range of $1.28 to $1.35. This EPS guidance assumes a negative currency impact of approximately 1%.