secwatch.observer — SEC 8-K summary
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Issuer:     APPLIED INDUSTRIAL TECHNOLOGIES INC (AIT)
CIK:        0000109563
Form:       8-K
Filed at:   2023-08-10T23:59:59+00:00
Accession:  0000109563-23-000060
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Applied Industrial Q4 net sales $1.2B (+9.1% YoY); net income $92.2M; FY2024 EPS guidance $8.80-$9.55
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- Q4 net sales $1.2B (+9.1% YoY, organic +8.6%); net income $92.2M ($2.35 EPS).
- Full-year FY2023 net sales $4.4B (+15.8% YoY); net income $346.7M ($8.84 EPS); adjusted EPS $8.75.
- FY2024 EPS guidance $8.80-$9.55 on 0-4% sales growth; EBITDA margin 11.9%-12.1%.
- Updated intermediate targets: sales over $5.5B and EBITDA margins over 13% within next five years.
- LIFO expense Q4 $8.1M ($0.15 after tax); FY LIFO expense $34.2M ($0.66 after tax).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/109563/000010956323000060/0000109563-23-000060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/109563/000010956323000060/ait-20230810.htm
  HTML page:      https://secwatch.observer/filing/0000109563-23-000060

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