Applied Industrial Q1 net sales $891.7M (+19.2%), EPS $1.36, maintains guidance

APPLIED INDUSTRIAL TECHNOLOGIES INC

2022-Q1 EPS reported $1.36 revenue$891,681,000

Net sales $891.7M, up 19.2% YoY; organic sales up 16.3%.
Net income $53.0M ($1.36 diluted EPS); EBITDA $88.5M.
Fiscal 2022 guidance maintained: EPS $5.00-$5.40, sales growth 8-10% (7-9% organic).
Quarterly dividend $0.33/share declared, payable Nov 30 to holders of record Nov 15.
Acquired R.R. Floody Co. in August; repurchased 76,658 shares for $6.5M in quarter.

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