Danbury industrial gas maker Praxair Inc. today narrowed its full-year earnings guidance and cut its sales forecast, citing weaker demand in the difficult economy.
Meantime, Praxair declared a quarterly dividend of 40 cents per share, payable on June 15 to shareholders of record on June 5.
The company said it now expects a 2009 profit between $3.85 and $4.15 per share. It expects sales of about $9 billion.
Previously, the company forecast a profit of $3.80 per share to $4.20 per share and sales of $9.5 billion to $10 billion.
Analysts surveyed by Thomson Reuters call for a full-year profit of $3.99 per share on $10 billion in sales, on average.
Praxair also offered an earnings outlook for the second quarter of between 95 cents per share and $1 per share. Wall Street calls for $1 per share. The company did not issue a second-quarter revenue guidance.
At 11 a.m., Praxair traded at $71.52, up 5 cents, or .07 percent. (AP)
