Airgas Sales Up 1% in Fiscal 2Q - Modern Distribution Management

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Airgas Sales Up 1% in Fiscal 2Q

Year-to-date sales up 2 percent year-over-year.
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Airgas, Inc. (NYSE: ARG), Radnor, PA, reported sales for the second quarter ended Sept. 30 of $1.4 billion, a 1 percent increase over the same period a year ago. Profit decreased 0.3 percent to $98 million for the quarter.

Organic sales were flat compared to the prior year, with gas and rent up 3 percent and hardgoods down 5 percent. In the distribution segment, organic sales were down 1 percent, with gas and rent up 2 percent and hardgoods down 5 percent.

For the first half of the fiscal year, sales were $2.7 billion, up 2 percent year-over-year. Profit decreased 0.5 percent to $186.3 million.

“Our results continue to reflect the challenging industrial economy with sales to customers in our energy and chemical, and manufacturing and metal fabrication end markets down year-over-year in the mid-single digits," said Michael L. Molinini, president & CEO. "However, our diversified end customer markets and continued strength in non-residential construction, together with tight expense management, helped to mitigate the impact of the sales declines in those end markets.” 

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