Airgas fiscal 2016 third quarter earnings report blames ‘challenging economical industry’
Airgas, Inc. has released its official earnings report for the fiscal 2016 third quarter ended on 31st December 2015. It finalises a tough period for the US-based company, which blames the ’challenging economical industry’ for its tumultuous year.
Third quarter sales of $1.3bn decreased 3% compared to the prior year, while organic sales, Distribution and Other Operations segments all showed decreases of between 1-10%.
The findings reported adjusted diluted earnings per share (EPS) of $1.19, down 3% compared to the year before of $1.23. Airgas also assigned a 2% increase in selling, distribution and administrative expenses to the operating costs associated with acquired several businesses throughout the term.
Operating margin for the quarter was 9.7%, including the impact of $21m in merger costs, and the adjusted operating margin – excluding merger costs – was 11.3%, down 90 basis points compared to the prior year. The Tier One company consigns this decrease primarily to the Distribution segment, which reported a 4% decline in sales, as well as a 3% decline in gross profits, flat selling, distribution, and administrative expenses – and a 5% increase in depreciation and repayment expense.
... to continue reading you must be subscribed
Subscribe Today
To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.
