Applied Industrial Q3 sales $1.1B (+15.4% YoY); adj EPS $2.38 (+36.3%); raises FY guidance

APPLIED INDUSTRIAL TECHNOLOGIES INC

2023-Q3 EPS reported $6.49 revenue$3,254,720,000

Net sales $1.1B, up 15.4% YoY (organic +15.0%); Service Center +16.1%, Engineered Solutions +13.1%.
Adjusted net income $93.5M ($2.38/sh), up 36.3% YoY; EBITDA $140.3M (+29.2%).
FY2023 guidance raised: adj EPS $8.47-$8.60 (prior $8.10-$8.50), sales growth 14%-15%, EBITDA margins 11.7%-11.8%.
Quarterly dividend $0.35/sh declared, payable May 31, record May 15.
April sales trending up high single-digit organic % YoY; management sees near-term moderation but above-market growth.

item 2.02 item 9.01

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 the fiscal 2023 third quarter ended March 31, 2023 results: revenue $1.1 Billion, net income $97.2 Million, EPS $2.47 Per Share. Guidance raised.

Period: the fiscal 2023 third quarter ended March 31, 2023
Revenue: $1.1 Billion
Net income: $97.2 Million
EPS: $2.47 Per Share
Guidance: raised
Result: reported results

Exact text from the filing

Applied Industrial Technologies Reports Fiscal 2023 Third Quarter Results • Net Sales of $1.1 Billion Up 15.4% YoY; Up 15.0% on an Organic Basis • Net Income of $97.2 Million, or $2.47 Per Share • Adjusted Net Income of $93.5 Million, or $2.38 Per Share Up 36.3% YoY • EBITDA of $140.3 Million Up 29.2% YoY • Updating Fiscal 2023 Guidance to Reflect Fiscal Third Quarter Performance

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Source: SEC EDGAR

accession 0000109563-23-000044

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