Applied Industrial Technologies (AIT) Tops Q4 EPS by 3c, Revenues Beat; Offers FY19 EPS Mid-Point Outlook Below Consensus

Applied Industrial Technologies (NYSE: AIT) reported Q4 EPS of $1.03, $0.03 better than the analyst estimate of $1.00. Revenue for the quarter came in at $897.7 million versus the consensus estimate of $882.74 million.

• Record Full-Year Sales of $3.1 Billion, up 18.5%
• Fourth Quarter Sales of $897.7 Million, up 31.7%; 9.3% Organic Sales Growth
• Fourth Quarter Net Income of $40.4 Million, EPS of $1.03
• Record Fourth Quarter EBITDA, 9.7% of Sales
• Provides Fiscal Year 2019 Outlook
  • Sales increase in the range of 16% to 18%
  • Expects earnings per share in the range of $4.48 to $4.68 per share

Commenting on the Company’s performance, Applied’s President & Chief Executive Officer Neil A. Schrimsher said, “Fiscal 2018 proved to be an exciting and successful year, including record fiscal-year financial performance and continued progress in enhancing our differentiation as a value-added industrial distributor. We are extremely pleased with the engagement of the FCX Performance team members and our progress to date, and we are even more excited about the growth opportunities in the new fiscal year. As we celebrate 95 years of business, Applied is well-positioned as the technical MRO distributor leader, and we are committed to leveraging our expanding capabilities to generate further benefits for all of our stakeholders.”

Mr. Schrimsher concluded, “Across the organization, we have opportunities to drive continuous improvements and further grow our business with current customers and new end users. Working Together, Winning Together... we are committed to executing our long-range strategy to generate increased shareholder value.”

GUIDANCE:

Applied Industrial Technologies sees FY2019 EPS of $4.48-$4.68, versus the consensus of $4.66.

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

You May Also Be Interested In

• Nvidia pitches Vera CPU to Chinese clients with August delivery target
• 3 E Network CEO outlines robotics strategy focused on edge AI chips
• Vera Bradley (VRA) Misses Q1 EPS by 26c ; Offers Guidance