8-K
filed October 27, 2022, 7:59 PM ET
ticker AIT
CIK 0000109563
earnings
confidence high
sentiment positive
materiality 0.80
Applied Industrial Q1 sales $1.1B (+19.1% YoY); EPS $1.97 (+45%); raises FY2023 guidance
APPLIED INDUSTRIAL TECHNOLOGIES INC
2023-Q1 EPS reported
$1.97
revenue$1,062,405,000
- Net sales $1.1B (+19.1% YoY); EPS $1.97 (+45%); EBITDA $118.7M (+34.2%).
- Organic sales growth 19.4%; Service Center +20.3%, Engineered Solutions +17.8%.
- Raises FY2023 EPS guidance to $6.90-$7.55 (from $6.65-$7.30) and organic sales growth to 6-10%.
- Declares quarterly dividend $0.34/share, payable Nov 30, record Nov 15.
- Renamed Fluid Power & Flow Control segment to Engineered Solutions.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
APPLIED INDUSTRIAL TECHNOLOGIES INC reported fiscal 2023 first quarter ended September 30, 2022 results: revenue $1.1 billion.
- Period
- fiscal 2023 first quarter ended September 30, 2022
- Revenue
- $1.1 billion
- Result
- reported results
Exact text from the filing
The Company reported net income of $76.9 million, or $1.97 per share, and EBITDA of $118.7 million.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
APPLIED INDUSTRIAL TECHNOLOGIES INC reported fiscal 2023 first quarter ended September 30, 2022 results: revenue $1.1 billion.
- Period
- fiscal 2023 first quarter ended September 30, 2022
- Revenue
- $1.1 billion
- Result
- reported results
Exact text from the filing
Net sales for the quarter increased 19.1% to $1.1 billion from $891.7 million in the prior year.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
APPLIED INDUSTRIAL TECHNOLOGIES INC reported fiscal 2023 results: EPS $6.90 to $7.55. Guidance raised.
- Period
- fiscal 2023
- EPS
- $6.90 to $7.55
- Guidance
- raised
- Result
- guidance update
Exact text from the filing
For fiscal 2023, the Company now projects EPS of $6.90 to $7.55 (prior $6.65 to $7.30), sales growth of 5% to 9%, including 6% to 10% on an organic basis (prior 3% to 7%) and EBITDA margins of 10.9% to 11.2% (prior 10.8% to 11.1%).
View on SEC.gov
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