Airgas recently announced that it expects to exceed guidance for its first quarter ending 30th June 2007.
The Company now expects first quarter earnings per diluted share from continuing operations in the range of $0.61 to $0.63, which is approximately 17 percent above previous EPS estimates of $0.52 to $0.54.
$quot;The increased estimate is primarily driven by stronger than expected same-store sales, which are running at 9 percent through May, exceeding the pace we saw in the fourth quarter and in early April,$quot; said Airgas chairman and CEO, Peter McCausland.
$quot;We have seen good growth in both gas and hardgoods same-store sales with strong demand across our customer base, including manufacturing and non-residential construction sectors. Our new guidance assumes continued sales momentum through June.$quot;
McCausland continued, $quot;We will update our full-year earnings guidance when we announce our results in late July.$quot;