This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Airgas Management Discusses Q1 2013 Results - Earnings Call Transcript

Same-store sales growth in our core distribution business decelerated this quarter to 7%, but very strong performances by our all other operations businesses provided a nice boost to earnings in a moderating environment.

SAP implementation costs were higher than expected this quarter and will likely be higher than expected for the remainder of the year. However, the most important thing we can do to position ourselves to derive long-term value from this investment is to get the implementation right and to support our hardworking associates in doing so. The good news is that SAP and the total implementation overall is going very, very well. At this point, nearly 70% of our distribution business is running on SAP, and we think the full year expense, net of benefits, will be in the $0.12 to $0.16 net expense range that we projected earlier.

Strong cash flow continues to be a hallmark of our business model. Adjusted cash flow from operations increased 12% year-over-year to $155 million in the quarter, and free cash flow increased 7% year-over-year to $76 million in the quarter.

With regard to the current landscape, most of our customer segments appear to be stable or growing slowly. In fact, our metal fabrication customer segment remained a bright spot even through June when daily sales in most of our other segments slowed from May levels. Daily sales in July typically starts slowly due to the holiday then rebound as the month progresses. However, during -- however, after the normal slow start, daily sales have been somewhat sluggish to this point, so it's tough to predict how the end of the month will play out. Coupled with the deceleration in GDP growth, we believe the economic recovery has indeed hit a soft patch.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs