The 2020 Mid-Year Economic Update_long

Airgas Sales Increase 7.2% in Fiscal 3Q

Year-to-date sales increase 5.2 percent.

Airgas, Inc. (NYSE: ARG), Radnor, PA, reported sales for the third quarter ended Dec. 31, 2014, of $1.3 billion, an increase of 7.2 percent from the previous year. Organic sales increased 6 percent. Profit for the quarter increased 12.6 percent to $93.2 million.

In the distribution segment, gas and rentals increased 5 percent and hardgoods increased 6 percent.

"Organic growth in both hardgoods and gases were in line with our expectations, and earnings were in the middle of our guidance range," said Airgas President and CEO Michael L. Molinini. "Although softness persists in some sectors, our welder and generator rental business and sales to transportation equipment manufacturers remained strong, and we saw an uptick in our downstream energy and non-residential construction segments."

For the first nine months of the fiscal year, sales were $4 billion, a 5.2 percent increase from $3.8 billion the previous year. The company reported a profit of $280.4 million year-to-date, an increase of 6.8 percent from the same period in 2013.

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