Airgas sales up 5 percent for year
Airgas reported fourth quarter sales of $1.3 billion, an increase of 3% over the prior year.
Organic sales in the quarter were up 2% over the prior year, with gas and rent up 2% and hardgoods up 2%. Distribution segment organic sales in the quarter were up 1% compared to prior year, with gas and rent flat and hardgoods up 2%. Acquisitions contributed sales growth of 1% in the quarter on a consolidated basis and in the distribution segment.
Net earnings of $87.7 million, or $1.15 per share, compared to earnings of $88.3 million, or $1.17, in the same quarter a year ago.
"During the quarter, we experienced greater than anticipated declines in year-over-year sales growth rates in our Energy & Chemicals and Manufacturing customer segments reflecting the impact of the significant and rapid decline in oil prices and the impact of the strong dollar on manufacturers that export, as well as challenging weather conditions throughout much of the country," said said Airgas President and Chief Executive Officer Michael L. Molinini
Full year sales were $5.3 billion, an increase of 5% over the prior year. Organic sales increased 3% over the prior year, with gas and rent up 3% and hardgoods up 4%, while acquisitions contributed sales growth of 2% for the year.
Full-year earnings of $368 million, or $4.85 per share, compared to earnings of $350.7 million, or $4.68, a year ago.
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.
