Airgas Q4 Adj. Profit Beats Estimates; Sees Q1, 2016 Earnings Below View

(RTTNews) - Industrial equipment and gas supplier Airgas, Inc. (ARG) reported fourth-quarter net earnings of $87.72 million or $1.15 per share, down from $88.36 million or $1.17 per share in the year-ago period.

Adjusted earnings for the quarter were $1.15 per share, the same as in the year-ago quarter. On average, 15 analysts polled by Thomson Reuters expected earnings of $1.14 per share for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly net sales increased 3 percent to $1.30 billion from $1.27 billion a year earlier. Analysts had a consensus revenue estimate of $1.30 billion for the quarter.

Looking ahead to the first quarter of fiscal 2016, Airgas forecasts earnings in a range of $1.14 to $1.18 per share, compared to prior-year earnings of $1.18 per share. The company noted that the flat to slightly declining earnings per share range reflects the near-term challenging sales environment and assumes a year-over-year organic sales growth rate in the low single digits.

Street expects the company to report earnings of $1.21 per share for the quarter.

For fiscal 2016, Airgas projects earnings in a range of $4.85 to $5.15 per share, reflecting a flat to 6 percent increase over prior-year earnings per share. The guidance assumes a year-over-year organic sales growth rate in the low to mid single digits. Analysts expect the company to earn $5.24 per share for the year.