Airgas Q1 Profit Edges Down, Boosts 2016 EPS Outlook - Quick Facts

(RTTNews) - Industrial equipment and gas supplier Airgas, Inc. (ARG) reported that first-quarter net earnings edged down to $88.24 million or $1.16 per share from $88.85 million or $1.18 per share in the prior-year quarter.

On average, 15 analysts polled by Thomson Reuters expected the company to report earnings of $1.15 per share for the quarter. Analysts' estimates typically exclude one-time items.

Net sales for the quarter increased 3 percent to $1.35 billion from $1.31 billion in the same quarter last year. Analysts had a consensus revenue estimate of $1.34 billion for the quarter. Organic sales grew 2 percent.

Looking ahead to the second quarter, Airgas forecasts earnings in a range of $1.28 to $1.33 per share, on projected organic sales growth rate in the low single digits. Analysts expect the company to report earnings of $1.33 per share and sales of $1.39 billion for the quarter.

For fiscal 2016, Airgas raised earnings guidance to a range of $4.90 to $5.05 per share from the prior forecast range of $4.85 to $5.15 per share. The guidance assumes a year-over-year organic sales growth rate in the low to mid single digits. Street is currently looking for full-year 2015 earnings of $5.46 per share on annual sales of $5.46 billion.