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Praxair, Inc. reports a net income of $371 million for the second quarter fiscal year 2010. Diluted earnings per share come in at $1.19. Both income and earnings were up 24 percent over the second quarter last year. “We expect volume growth to continue in the second half of 2010, perhaps at a more modest pace,” says Steve Angel, chairman and CEO of Praxair.

Praxair’s board authorized a share repurchase program for up to $1.5 billion of the company’s common stock. “The new stock repurchase program which we announced today reflects the confidence we have in our long-term growth outlook,” says Angel. “We expect that our cash-flow generation will continue to exceed our capital investment requirements, due to our high return on capital.” The current $1-billion program in effect since July 2008 has been substantially completed.

Read more about Praxair’s quarterly earnings and share repurchase program.

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