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after-record-earnings-airgas-raises-full-year-guidance
after-record-earnings-airgas-raises-full-year-guidance

After ‘record earnings’ Airgas raises full-year guidance

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Airgas, Inc., has publicised “record earnings” in the fiscal second quarter of 2012. Consequently the firm has raised its full-year guidance.

Airgas, Inc., has reported net earnings of $77.7m, or $1.01 per diluted share for its second quarter ended 30th September 2011. Adjusted earnings per share (EPS) increased 24% on the prior year to $0.83.

Similarly, second quarter sales increased 12% to $1.19bn, total same-store sales grew 10% in the quarter. Acquisitions contributed 2% to overall sales growth.

Peter McCausland, Airgas CEO, commented on the results. He said, “We continue to see strength in the manufacturing-intensive regions of the US and in our petrochemical and energy customers. The relative out-performance in our hardgoods business on the strength of sales to large manufacturing customers and the mix shift within hardgoods to welding and automation equipment had a dilutive effect on our gross margin, but are generally indicative of sustained activity levels in the manufacturing economy.”

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