Industrial gas producer and supplier Praxair Inc. PX is scheduled to report first-quarter 2016 results on Apr 29, before the market opens. The Zacks Consensus Estimate for the quarter is pegged at $1.26. Praxair delivered better-than-expected results in one of the four trailing quarters, while reporting in-line results in the rest. Average earnings surprise for the stock stands at a positive 0.35%. Last quarter, the company’s earnings of $1.47 per share came in line the Zacks Consensus Estimate. Let us see how things are shaping up for Praxair prior to this earnings announcement. Factors to Affect Q1 Results We believe increasing application of industrial gases, especially hydrogen in the refining industry, oxygen in healthcare, and nitrogen and carbon dioxide in oil and gas industry, will prove beneficial for chemical companies, like Praxair, in the quarters ahead.The most striking feature about Praxair is its diversified product portfolio and a large worldwide client base. Also, the company’s efforts to invent products and improvise services, and expand globally through organic and inorganic means deserve a special mention. Rewarding shareholders through dividends and share buybacks, and at the same time, improvement of profitability through cost-saving actions remain a priority for the company.We believe these positives will help Praxair to overcome certain near-term headwinds arising from unfavorable foreign currency movements and an uncertain global economy. Over the last 60 days, the Zacks Consensus Estimate for the stock has inched up 0.5% to $5.55 for 2016.Earnings WhispersOur proven model conclusively shows that Praxair is likely to beat earnings this quarter. That is because a stock needs both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. That is the case here as you will see below.Zacks ESP: Earnings ESP, which represents the difference between the Most Accurate estimate of $1.27 and the Zacks Consensus Estimate of $1.26, currently stands at +0.79%.Zacks Rank: Praxair currently holds a Zacks Rank #2 (Buy), which increases the predictive power of ESP.However, we caution against stocks with a Zacks Rank #4 or #5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing a negative estimate revisions momentum.Other Stocks to ConsiderHere are some other companies you may want to consider in the chemical industry as our model shows they have the right combination of elements to post an earnings beat this quarter:The Dow Chemical Company DOW, with an Earnings ESP of +1.21% and a Zacks Rank #2.Air Products and Chemicals, Inc. APD, with an Earnings ESP of +0.56% and a Zacks Rank #2.Albemarle Corp. ALB, with an Earnings ESP of +1.18% and a Zacks Rank #3.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report DOW CHEMICAL (DOW): Free Stock Analysis Report PRAXAIR INC (PX): Free Stock Analysis Report AIR PRODS & CHE (APD): Free Stock Analysis Report ALBEMARLE CORP (ALB): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research