Airgas Organic Sales Up 2% in Second Quarter - Modern Distribution Management

Log In

Airgas Organic Sales Up 2% in Second Quarter

CEO: Shutdown likely had negative impact on business confidence and spending.
Author
Date

Airgas, Inc. (NYSE: ARG), Radnor, PA, reported sales for the second quarter ended Sept. 30, 2013, were $1.28 billion, up 4 percent over the prior year. Organic sales increased 2 percent, with gas and rent up 4 percent and hardgoods down 2 percent.

Profit increased 17 percent to $95 million.

“Our earnings results for the quarter were solidly at the midpoint of our guidance range; however, sales volumes were challenged to a greater degree than expected. Customer activity levels softened during the back half of September, which is normally a time when activity picks up meaningfully,” President and CEO Michael L. Molinini said.

“The degree to which the federal government shutdown may have affected our customers is difficult to gauge, but it can only have had a negative impact on business confidence and spending, particularly for our smaller customers," he said. "Although we are frustrated by the current economic environment and near-term uncertainty, we will continue to focus on the growth drivers that we can control and are ready to capitalize when sustained growth in the industrial economy resumes.”

For the first six months of the fiscal year, sales were $2.56 billion, up 3 percent year-over-year. Profit grew 5 percent to $179.7 million.

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.