Airgas reports 3 percent sales decline
Airgas reported third quarter sales of $1.3 billion decreased 3% compared to the prior year.
Organic sales were down 4% compared to the prior year, with gas and rent down 1% and hardgoods down 10%. In the Distribution segment, organic sales were down 5% compared to the prior year, with gas and rent down 1% and hardgoods down 10%.
Net earnings of $73.8 million, or $1.01 per share, compared to income of $93.2 million, or $1.23, in the same period last year.
“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 high single digits. However, our diversified customer base, continued strength in non-residential construction, and tight expense management helped to mitigate the impact of the sales declines in those end markets,” said Airgas president and chief executive officer Michael L. Molinini.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
