secwatch.observer — SEC 8-K summary
======================================

Issuer:     APPLIED INDUSTRIAL TECHNOLOGIES INC (AIT)
CIK:        0000109563
Form:       8-K
Filed at:   2023-01-26T23:59:59+00:00
Accession:  0000109563-23-000004
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/109563/000010956323000004/0000109563-23-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/109563/000010956323000004/ait-20230126.htm
  HTML page:      https://secwatch.observer/filing/0000109563-23-000004

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