secwatch.observer — SEC 8-K summary
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Issuer:     APPLIED INDUSTRIAL TECHNOLOGIES INC (AIT)
CIK:        0000109563
Form:       8-K
Filed at:   2022-08-11T23:59:59+00:00
Accession:  0000109563-22-000073
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Applied Industrial Q4 sales $1.1B, EPS $2.02; FY2023 guidance: EPS $6.65-$7.30
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- Q4 net sales $1.1B, +18.5% YoY; organic +18.7%. Net income $79.1M, EPS $2.02 (+34.4% YoY).
- FY2022 net sales $3.8B (+17.8% YoY), net income $257.4M, EPS $6.58 (+38.8% YoY adjusted).
- FY2023 guidance: sales growth 3-7%, EPS $6.65-$7.30, EBITDA margins 10.8-11.1%.
- Board authorized new 1.5M share repurchase program, replacing prior plan.
- CEO notes mid-teens organic sales growth early FY2023; no signs of slowing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/109563/000010956322000073/0000109563-22-000073-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/109563/000010956322000073/ait-20220811.htm
  HTML page:      https://secwatch.observer/filing/0000109563-22-000073

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer