Applied Industrial Technologies Reports Fiscal 2020 Second Quarter Results

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Go back to Applied Industrial Technologies Reports Fiscal 2020 Second Quarter Results

Applied Industrial Technologies (AIT) Tops Q2 EPS by 1c, Revenues Miss; Lowers FY20 EPS Mid-Point Guidance Below Consensus

January 23, 2020 6:32 AM EST

Applied Industrial Technologies (NYSE: AIT) reported Q2 EPS of $0.97, $0.01 better than the analyst estimate of $0.96. Revenue for the quarter came in at $833.4 million versus the consensus estimate of $836.57 million.

Net Sales of $833.4 Million Down 0.8% YoY; Down 4.0% on an Organic BasisNet Income of $38.0 Million; EPS of $0.97Cash from Operations of $54.9 Million; Free Cash of $47.9 MillionQuarterly Dividend Increased to $0.32 Per ShareFiscal 2020 Guidance Updated, Range Narrowed

Commenting on the results, Applieds President & Chief Executive Officer Neil A.... More