Airgas Fiscal 2016 first quarter sales increase 3%
Airgas, Inc. (NYSE: ARG) reported in July earnings per diluted share of $1.16 for its first quarter ended June 30, 2015, down 2% compared to the prior year earnings per diluted share of $1.18, in line with the company’s expectations and reflective of the challenging economic conditions.
First quarter sales increased 3% over the prior year to $1.3 billion. Organic sales were up 2% over the prior year, with gas and rent up 5% and hardgoods down 3%. In the Distribution segment, organic sales were flat compared to the prior year, with gas and rent up 2% and hardgoods down 3%. In the All Other Operations segment, organic sales were up 16%, primarily driven by increased sales in the refrigerants, CO2 and dry ice businesses. Acquisitions contributed sales growth of 1% in the quarter on both a consolidated basis and in the Distribution segment.