Applied Industrial Technologies (AIT) Tops Q2 EPS by 8c, Beats on Revenues; Boosts FY18 EPS Guidance Above Consensus

Applied Industrial Technologies (NYSE: AIT) reported Q2 EPS of $0.79, $0.08 better than the analyst estimate of $0.71. Revenue for the quarter came in at $667.2 million versus the consensus estimate of $653.84 million.

Outlook

“In light of recent performance, U.S. tax reform and continued favorable industrial markets, we are raising our full-year earnings per share guidance to a range between $3.40 and $3.50 per share, on sales which are anticipated to be 6% to 7% higher year-over-year. Revised guidance includes approximately $0.11 EPS benefit from U.S. tax reform.”

GUIDANCE:

Applied Industrial Technologies sees FY2018 EPS of $3.40-$3.50, versus the consensus of $3.34.

Highlights

• Net Sales of $667.2 Million Up 9.7%
• Net Income of $31.0 Million Up 28.5%; EPS of $0.79 Up 29.5%
• Raises Full-year Guidance
• Increases Quarterly Dividend to $0.30 Per Share

For earnings history and earnings-related data on Applied Industrial Technologies (AIT) click here.

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