Applied Industrial Technologies (AIT) Misses Q1 EPS by 1c; Adds 1.5M Common to Buyback

Applied Industrial Technologies (NYSE: AIT) reported Q1 EPS of $0.70, $0.01 worse than the analyst estimate of $0.71. Revenue for the quarter came in at $702.3 million versus the consensus estimate of $682.72 million.

On October 27, the Board of Directors authorized the repurchase of up to an additional 1.5 million shares of the Company's common stock – a plan that replaces the prior share repurchase plan. The new authorization represents approximately 4% of the shares currently outstanding, and these purchases can be made in open market and negotiated transactions.

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

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