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Airgas Reports Fiscal 2015 Fourth Quarter and Full Year Earnings
- Full year diluted EPS of $4.85, up 3% over prior year adjusted diluted EPS* and up 4% over prior year diluted EPS
- Fourth quarter diluted EPS of $1.15, compared to prior year adjusted diluted EPS* of $1.15 and diluted EPS of $1.17
- Fourth quarter organic sales up 2% over prior year, with gas & rent up 2% and hardgoods up 2%
- Full year free cash flow* of $309 million on adjusted cash from operations* of $752 million
- Fiscal 2016 diluted EPS guidance of $4.85 to $5.15, with midpoint representing approximately 3% growth over fiscal 2015 diluted EPS
RADNOR, Pa.--(BUSINESS WIRE)--April 30, 2015--Airgas, Inc. (NYSE: ARG), one of the nation’s leading suppliers of industrial, medical, and specialty gases, and related products, today reported sales and earnings results for its fourth quarter and full year ended March 31, 2015. Results for the fourth quarter reflect challenges associated with the significant and rapid decline in oil prices, the impact of the strong dollar and poor weather conditions throughout much of the U.S.
“For the year, we delivered strong free cash flow* of $309 million on adjusted cash from operations* of $752 million while continuing to grow earnings in a challenging environment,” said Airgas President and Chief Executive Officer Michael L. Molinini.
Fourth Quarter Results
|Earnings per diluted share (GAAP)||$||1.15||$||1.17||-2%|
|State income tax benefits||-||(0.02||)|
|Adjusted earnings per diluted share (non-GAAP)||$||1.15||$||1.15||0%|
“During the quarter, we experienced greater than anticipated declines in year-over-year sales growth rates in our Energy & Chemicals and Manufacturing customer segments reflecting the impact of the significant and rapid decline in oil prices and the impact of the strong dollar on manufacturers that export, as well as challenging weather conditions throughout much of the country. As we announced on March 20, we expected these sales challenges to slow year-over-year organic growth for our fourth quarter to a range of 1% to 2% resulting in diluted EPS in a range of $1.13 to $1.16, and that is where we landed,” Molinini added. “We remain committed to delivering long-term growth and value through leveraging our industry leading platform as well as our broad product and service offering. In addition, we will continue to look hard at our operating costs and more tightly manage capital expenditures until sustained growth levels return.”
Fourth quarter earnings per diluted share were $1.15, down 2% compared to prior year earnings per diluted share of $1.17 and flat compared to prior year adjusted earnings per diluted share* of $1.15.
The following information was filed by Airgas Inc (ARG) on Thursday, April 30, 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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