Airgas, Inc. has released its official earnings report for the fiscal 2016 third quarter ended on 31st December 2015. It finalises a tough period for the US-based company, which blames the ’challenging economical industry’ for its tumultuous year.
Third quarter sales of $1.3bn decreased 3% compared to the prior year, while organic sales, Distribution and Other Operations segments all showed decreases of between 1-10%.
The findings reported adjusted diluted earnings per share (EPS) of $1.19, down 3% compared to the year before of $1.23. Airgas also assigned a 2% increase in selling, distribution and administrative expenses to the operating costs associated with acquired several businesses throughout the term.
Operating margin for the quarter was 9.7%, including the impact of $21m in merger costs, and the adjusted operating margin – excluding merger costs – was 11.3%, down 90 basis points compared to the prior year. The Tier One company consigns this decrease primarily to the Distribution segment, which reported a 4% decline in sales, as well as a 3% decline in gross profits, flat selling, distribution, and administrative expenses – and a 5% increase in depreciation and repayment expense.
... to continue reading you must be subscribed
