secwatch.observer — SEC 8-K summary
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Issuer:     APPLIED INDUSTRIAL TECHNOLOGIES INC (AIT)
CIK:        0000109563
Form:       8-K
Filed at:   2022-10-27T23:59:59+00:00
Accession:  0000109563-22-000125
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Applied Industrial Q1 sales $1.1B (+19.1% YoY); EPS $1.97 (+45%); raises FY2023 guidance
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/109563/000010956322000125/0000109563-22-000125-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/109563/000010956322000125/ait-20221027.htm
  HTML page:      https://secwatch.observer/filing/0000109563-22-000125

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