Applied Industrial Technologies (AIT) Tops Q1 EPS by 31c; raises guidance

Applied Industrial Technologies (NYSE: AIT) reported Q1 EPS of $2.39, $0.31 better than the analyst estimate of $2.08. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.1 billion.

GUIDANCE:

Applied Industrial Technologies sees FY2024 EPS of $9.25-$9.80, versus the consensus of $9.19.

Sales growth now seen in the range of 1% to 4% (prior 0% to 4%) including 0% to 3% on an organic daily basis, and EBITDA margins of 12.0% to 12.3% (prior 11.9% to 12.1%).

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

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