• Most Popular
  • Most Shared

UPDATE 1-Airgas cuts 3rd-quarter outlook, shares fall

Thu Jan 8, 2009 5:31pm EST

Stocks

   

(Adds share price)

Stocks  |  Global Markets

HOUSTON, Jan 8 (Reuters) - Airgas Inc (ARG.N), a distributor of medical and specialty gases, lowered its fiscal third-quarter profit outlook on Thursday, citing a big slowdown in sales in December.

Airgas shares fell about 3 percent to $37 in post-market trading.

Airgas, based in Radnor, Pennsylvania, now expects earnings for the quarter ended Dec. 31 of 74 cents to 76 cents per share, down from its prior forecast of 82 cents to 84 cents per share.

"We are prepared to initiate further expense reductions if the low sales volumes we saw in December persist for very long," Airgas Chairman and Chief Executive Officer Peter McCausland, said in a statement.

Analysts on average had expected Airgas to report a profit of 79 cents a share, according to Reuters Estimates. (Reporting by Anna Driver in Houston; Editing by Andre Grenon)

Stocks
Global Markets


More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets