Airgas, Inc. (ARG-NYSE) just saw shares launch at the end of the day because the company raised guidance. The guidance wasn’t just a bit, it was by 17%: $0.61 to $0.63 EPS now expected for Q1 versus prior $0.52 to $0.54 EPS range. The company has seen a 9% same-store-sales and good growth in both gas and hardgoods same-store sales with strong demand including manufacturing and non-residential construction sectors.
Shares are up almost 7% after having been up 3% or 4% before the ‘raised guidance.’ This signals that there is still strength above and beyond expectations throughout much of the small and mid-sized manufacturing and construction services. Airgas sells specialty gases to just about every industry so if you want to know who their customers are the answer is ‘almost everyone.’ Shares just crossed to new 52-week highs on the news, above the old 33.40 to $45.36 range over the last 52-weeks.
Jon C. Ogg
June 19, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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