Airgas Q3 Profit Climbs; Cuts Q4, FY EPS Forecasts - Quick Facts

(RTTNews) - Industrial equipment and gas supplier Airgas, Inc. (ARG) posted higher third-quarter net earnings of $93.2 million, or $1.23 a share, versus the prior-year period's $82.76 million, or $1.10 a share. Adjusted earnings per share stood at $1.18 in the year-ago quarter. On average, 16 analysts polled by Thomson-Reuters estimated the company's earnings to be $1.23 a share for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly sales increased 7% to $1.33 billion from $1.24 billion a year earlier, while 13 analysts estimated revenue of $1.31 billion for the third quarter.

For the fourth quarter of fiscal 2015, the firm now sees earnings per share of $1.25 to $1.30. Fourth-quarter guidance assumes a year-over-year organic sales growth rate of 6% to 7%.

For fiscal 2015, Airgas currently projects earnings per share in the range of $4.95 to $5.00. The annual guidance includes a negative $0.08 to $0.09 per share year-over-year impact from a variable compensation reset following a below-budget year in fiscal 2014.

The company's previous fiscal 2015 fourth-quarter and full-year earnings per share guidance was $1.32 to $1.37 and $5.00 to $5.10, respectively. Analysts are looking for earnings of $1.33 per share for the fourth quarter and $5.05 for the year.