Exhibit 99.1

Airgas Reports Fiscal 2015 Third Quarter Earnings

  • Diluted EPS of $1.23, up 12% over prior year diluted EPS and up 4% over prior year adjusted diluted EPS*
  • Total sales up 7% over prior year to $1.33 billion
  • Organic sales up 6% over prior year, with gas & rent up 5% and hardgoods up 6%
  • Updated fiscal 2015 4Q diluted EPS guidance to $1.25 to $1.30, representing 7% to 11% growth over prior year diluted EPS and 9% to 13% growth over prior year adjusted diluted EPS*

RADNOR, Pa.--(BUSINESS WIRE)--February 3, 2015--Airgas, Inc. (NYSE: ARG), one of the nation’s leading suppliers of industrial, medical, and specialty gases, and related products, today reported earnings per diluted share of $1.23 for its third quarter ended December 31, 2014, up 12% over prior year diluted EPS of $1.10 and up 4% over prior year adjusted diluted EPS* of $1.18.

Third quarter sales increased 7% over the prior year to $1.33 billion. Organic sales were up 6% over the prior year, with gas and rent up 5% and hardgoods up 6%. Acquisitions contributed sales growth of 1% in the quarter.

       
Third Quarter
FY2015     FY2014 % Change
Earnings per diluted share (GAAP) $ 1.23 $ 1.10 12 %
Loss on the extinguishment of debt   -   0.08
Adjusted earnings per diluted share (non-GAAP) $ 1.23 $ 1.18 4 %
 

“Organic growth in both hardgoods and gases were in line with our expectations, and earnings were in the middle of our guidance range,” said Airgas President and Chief Executive Officer Michael L. Molinini. “Although softness persists in some sectors, our welder and generator rental business and sales to transportation equipment manufacturers remained strong, and we saw an uptick in our downstream energy and non-residential construction segments.”

Selling, distribution, and administrative expenses increased 5% over the prior year, with operating costs associated with acquired businesses representing approximately 1% of the increase. The balance of the increase reflects normal expense inflation, as well as expenses associated with the Company’s investments in long-term strategic growth initiatives, including its e-Business platform and continued expansion of its telesales business through Airgas Total Access.

Operating margin was 12.2%, down 30 basis points compared to the prior year. Distribution segment operating margin was 12.7% for the quarter, consistent with the prior year.

Year-to-date free cash flow* was $218 million, compared to $333 million in the prior year, and adjusted cash from operations* was $538 million, compared to $576 million in the prior year. The reduction in operating cash flow reflected current year increases in working capital to support sales growth, in addition to the comparison to a particularly strong prior year that benefitted from the improvement in accounts receivable management following SAP conversions a year earlier. Free cash flow* in the current year was further impacted by a year-over-year increase in capital expenditures, which reflected the Company’s investment in revenue-generating assets, including two air separation plants, an e-Business platform and a new hardgoods distribution center.


The following information was filed by Airgas Inc (ARG) on Tuesday, February 3, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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