AIT Q2 EPS $2.05 (+41% YoY), revenue $1.1B (+21% organic), dividend raised to $0.35, guides higher

APPLIED INDUSTRIAL TECHNOLOGIES INC

2023-Q2 EPS reported $4.02 revenue$2,122,685,000

Net sales $1.1B, up 20.9% YoY; organic growth 21.1% across both Service Center and Engineered Solutions segments.
Net income $80.5M ($2.05 EPS) vs $57.2M ($1.46) prior year; EBITDA $125.5M, up 35.6%.
Quarterly dividend increased to $0.35/share (14th increase since 2010), payable Feb 28 to holders of record Feb 15.
FY2023 guidance raised: EPS $8.10–$8.50 (prior $6.90–$7.55), sales growth 13%–15%, EBITDA margins 11.5%–11.7%.
January month-to-date organic sales up low-twenty percent vs prior year; acquired Automation, Inc. in early Nov 2022.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

APPLIED INDUSTRIAL TECHNOLOGIES INC reported fiscal 2023 second quarter ended December 31, 2022 results: revenue $1.1 billion, net income $80.5 million, EPS $2.05. Guidance raised.

Period: fiscal 2023 second quarter ended December 31, 2022
Revenue: $1.1 billion
Net income: $80.5 million
EPS: $2.05
Guidance: raised
Result: reported results

Exact text from the filing

Applied Industrial Technologies Reports Fiscal 2023 Second Quarter Results • Net Sales of $1.1 Billion Up 20.9% YoY; Up 21.1% on an Organic Basis • Net Income of $80.5 Million; EPS of $2.05 Up 40.8% YoY

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Source: SEC EDGAR

accession 0000109563-23-000004

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