Airgas Sales Up 4% in Fiscal Second Quarter

Same-store sales grew 3 percent.

Airgas, Inc. (NYSE: ARG), Radnor, PA, No. 5 on MDM’s list of the top 40 industrial distributors, reported sales in its fiscal second quarter ended Sept. 30, 2012, were $1.2 billion, an increase of 4 percent over the prior-year period.

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Same-store sales grew 3 percent in the quarter, with gas and rent up 4 percent and hard goods up 1 percent. Profit increased 4.1 percent to $81 million.

For the first two quarters of fiscal 2013, sales were $2.5 billion, an increase of 5.8 percent year-over-year. Profit increased 12.4 percent to $171.8 million.

Since the beginning of its fiscal year, the U.S. distributor of industrial, medical and specialty gases has acquired eight businesses with aggregate annual revenues of more than $19 million.

"The broad-based moderation in business conditions that persisted during the second quarter has continued during October," Executive Chairman Peter McCausland said. “Though we're appropriately cautious about the near-term business environment, we're very optimistic about the long-term prospects for the U.S. manufacturing and energy industries.” 

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