Airgas Cuts Forecast

Airgas say it expects earnings for the quarter ended December 31 to be 74 cts-76 cts/share, down about 9% from previous estimates. The company posted prior-year earnings of 67 cts/share. “We are prepared to initiate further expense reductions if the lower sales volumes we saw in December persist for very long,” says Airgas chairman and CEO Peter McCausland. “During the quarter we began implementation of expense reduction plans which represent about $35 million in annual savings, over and above the $10 million in annual savings generated by our...

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