Applied Industrial Technologies (AIT) Tops Q2 EPS by 1c, Revenues Miss; Lowers FY20 EPS Mid-Point Guidance Below Consensus
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Applied Industrial Technologies Reports Fiscal 2020 Second Quarter Results
January 23, 2020 6:30 AM ESTNet Sales of $833.4 Million Down 0.8% YoY; Down 4.0% on an Organic Basis Net Income of $38.0 Million; EPS of $0.97 Cash from Operations of $54.9 Million; Free Cash of $47.9 Million Quarterly Dividend Increased to $0.32 Per Share Fiscal 2020 Guidance Updated, Range Narrowed
CLEVELAND--(BUSINESS WIRE)-- Applied Industrial Technologies (NYSE: AIT), a leading value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, and automation technologies, today reported results for its second quarter fiscal 2020 ended December 31, 2019.
Net sales decreased 0.8% to $833.4... More
