Applied Industrial Q3 net sales $980.7M (+16.6% YoY); EPS $1.75; raises FY2022 guidance

APPLIED INDUSTRIAL TECHNOLOGIES INC

2022-Q3 EPS reported $4.56 revenue$2,749,217,000

Net sales $980.7M (+16.6% YoY); organic daily sales +14.7%.
Net income $68.3M ($1.75 EPS); EBITDA $108.6M; LIFO expense $7.4M.
Raised FY2022 guidance: EPS $6.15-$6.25 (prior $5.70-$5.90); sales growth 14.8%-15.3%.
Declared quarterly dividend $0.34/share, payable May 31, 2022 to holders of record May 16.
Repurchased 35,000 shares for $3.5M in Q3; $318,000 shares remain authorized.

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