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Home » Airgas 3Q Sales Fall 14%
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Airgas 3Q Sales Fall 14%

By    MDM  Staff 
January 28, 2010
More about:  Airgas,  Gases/Welding Equipment,  Industrial
Same-store sales for the gases distributor fell 14% in the quarter.
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Airgas, Inc. (NYSE: ARG), Radnor, PA, reported sales for the third quarter ended Dec. 31, were $942 million, down 13% from the same period a year ago. Same-store sales declined 14%. Profit for the distributor of industrial, medical, and specialty gases, and related supplies decreased 25.5% to $46.9 million.

Fiscal year to date, sales were $2.88 billion, down 14% from the prior year. Profit was down 23.6% to $156.2 million.

"Although more modest than anticipated, a recovery seems to be underway across most of our geographies and customer segments," CEO Peter McCausland said. "However, a slow finish left third quarter sales short of our expectations. Conditions were particularly challenging in our Distribution segment's highly-profitable rental welder business, as activity related to major plant turnarounds and contractor maintenance was unexpectedly slow."

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