Airgas Posts Profit Gain, Again Rebuffs Air Products Bid

Airgas reported adjusted net earnings of 83 cts/share in its fiscal second quarter ended September 30, up 22%  compared with the same period last year. Analysts expected Airgas’ earnings to be 82 cts/share. Airgas used its improved profits as a basis to reaffirm its opposition to Air Products’ takeover attempt. Airgas’ second-quarter net earnings were $66.6 million, up 22% from year-ago period. Sales rose 9%, to $1.06 billion. “Our business continued to strengthen in our second quarter, reflecting broad-based improvement in most of...

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