The 2020 Mid-Year Economic Update_long

Airgas Sales Up 5.9% in Fiscal 2Q

Profit increased 3.5 percent for the quarter.

Airgas, Inc. (NYSE: ARG), Radnor, PA, reported sales for the second quarter ended Sept. 30 of $1.4 billion, a 5.9 percent increase over the same period a year ago. Organic sales increased 4 percent. Profit increased 3.5 percent to $98.3 million for the quarter.

In the distribution segment, gas and rentals increased 3 percent and hardgoods increased 6 percent.

"Organic sales during the quarter came in slightly above our expectations with hardgoods leading the growth, and our earnings were solidly in the middle of our guidance range," said Airgas President and CEO Michael L. Molinini. "Although sluggishness persists in some sectors, activity this quarter reaffirmed our prior belief that sectors such as mining and heavy equipment that were significant headwinds in the prior year are now stabilizing."

For the first half of the fiscal year, sales have totaled $2.7 billion, up 4.3 percent from the same period of 2013. Profit is up 4.2 percent to $187.2 million.

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