secwatch.observer — SEC 8-K summary
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Issuer:     APPLIED INDUSTRIAL TECHNOLOGIES INC (AIT)
CIK:        0000109563
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0000109563-23-000044
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/109563/000010956323000044/0000109563-23-000044-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/109563/000010956323000044/ait-20230427.htm
  HTML page:      https://secwatch.observer/filing/0000109563-23-000044

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