Posted January 21, 2011
Airgas sales up 9.5 percent
Airgas reported net earnings of $55.8 million, or 65 cents per diluted share, for its third quarter, on sales of $1.03 billion.
Third-quarter sales were 9.5% higher than the same period last year.
Total same-store sales increased 9% in the quarter, with hardgoods up 11% and gas and rent up 7%.
"We are seeing improvement across the country, with robust results in our Great Lakes, Mid South, and Southwest regions," said Airgas chief executive officer Peter McCausland. "Growth is now accelerating in our core business on strength in our manufacturing, utilities and petrochemical customer segments, as well as in repair and maintenance activity, particularly at our larger customers. Although we have yet to see meaningful recovery in energy and infrastructure construction, the outlook is improving and our rental welder business is poised to return to positive same-store sales growth in our fourth quarter."
