Airgas -5.8% as FQ4 earnings, revenue disappoint

|By:, SA News Editor

Airgas (ARG) -5.8% premarket after reporting lower than expected FQ4 earnings and revenues, which ARG says reflected sluggish business conditions, the negative impact on its refrigerants business from the EPA's March 2013 ruling, and severe weather.

Q1 organic sales fell 1% Y/Y, with gas and rent down 1% and hardgoods down 2%.

Issues downside guidance for Q1, seeing EPS of $1.15-$1.20 vs. $1.29 analyst consensus estimate and organic sales growth in the low single digits; issues downside guidance for FY 2015, seeing EPS of $5.00-$5.20 vs. $5.42 consensus.