Airgas has released what will be its final full year financial results in a less-than traditional way. In anticipation of its looming merger with industrial gas corporation, Air Liquide, Airgas has not conducted a quarterly earnings conference call or issued financial guidance for the upcoming quarter. Instead, the US firm opted to release a lone 10-K filing report, last night.
In the report, Airgas informed net sales for the year ended 31st March, 2016, essentially remained flat compared to the previous fiscal year, sitting at $5.3bn. Overall, organic sales decreased 1% compared to the previous year, with gas and rent up 2% but hardgoods down 7%.
The company explained the reasons for the general depreciation and stated, “Organic sales continue to reflect the challenging industrial economy and in particular the pressure on sales to customers engaged in the energy and chemical and the manufacturing and metal fabrication sectors.”
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