Praxair Wednesday said net income in the second quarter increased to $425 million or $1.38 per share from $371 million or $1.19 per share in the prior year.

On average, 16 analysts polled by Thomson Reuters expected the company to earn $1.37 per share in the quarter. Analysts' estimates typically exclude special items.

Sales increased 13% to $2.86 billion from $2.53 billion, surpassing Wall Street view of $2.79 billion.

For the third quarter, Praxair expects earnings per share in the range of $1.35 to $1.40. Analysts expect earnings of $1.39 per share for the quarter.
Further, the company increased its full year earnings guidance to $5.40 to $5.50 per share from the prior range of $5.35 to $5.45.

For 2011, Praxair expects sales in the area of $11.2 billion. The previous projection was for sales in the area of $11 billion.

Wall Street expects 2011 earnings of $5.47 per share on revenues of $11.16 billion.