IHS Chemical Week

Markets :: Industrial Gases

Airgas reports drop in earnings on refrigerants production

9:05 AM MDT | July 25, 2013 | Lindsay Frost

Airgas today reported net income of $84.6 million for the quarter ended 30 June, down 7% year-over-year (YOY)—reflecting the impact of economic uncertainty, sluggish business conditions, and a negative impact on its refrigerants business from the recent EPA ruling on chlorodifluoromethane (R-22) production allowances, the company says. Earnings per share of $1.14/share were slightly lower than analyst estimates of $.1.15/share, according to Thomson Reuters (New York). Earnings per share include SAP-related benefits, a decline from the refrigerants business...

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