Applied Industrial Technologies Reports Fiscal 2021 Second Quarter Results
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Applied Industrial Technologies (AIT) Tops Q2 EPS by 24c, Revenues Beat
January 28, 2021 6:34 AM ESTApplied Industrial Technologies (NYSE: AIT) reported Q2 EPS of $0.98, $0.24 better than the analyst estimate of $0.74. Revenue for the quarter came in at $751.3 million versus the consensus estimate of $732.92 million.
Neil A. Schrimsher, Applieds President & Chief Executive Officer, commented Our fiscal 2021 second quarter reflects solid execution across Applied. We are progressing on our growth initiatives as end-market demand gradually recovers. This drove encouraging order momentum and seasonally strong sequential improvement in daily sales rates during the quarter. Combined with solid cost control and working capital... More
