Applied Industrial Q1 EPS $2.39, revenue $1.1B up 3.1% YoY; raises FY2024 guidance

APPLIED INDUSTRIAL TECHNOLOGIES INC

2024-Q1 EPS reported $2.39 revenue$1,095,188,000

Net sales $1.1B, up 3.1% YoY; organic daily sales up 3.4% as Service Center segment rose 4.7%.
Net income $93.8M, EPS $2.39 (up 21.3% YoY); EBITDA $133.4M (up 12.3% YoY).
Raising FY2024 guidance: EPS now $9.25-$9.80 (prior $8.80-$9.55); sales growth 1%-4%.
Quarterly dividend $0.35/share declared, payable Nov 30, 2023 to holders of record Nov 15.
Two bolt-on Service Center acquisitions during quarter; CEO notes resilient U.S. industrial demand.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

APPLIED INDUSTRIAL TECHNOLOGIES INC updated its fiscal 2024 first quarter ended September 30, 2023 guidance (raised).

Period: fiscal 2024 first quarter ended September 30, 2023
Guidance: raised
Result: reported results

Exact text from the filing

On October 26, 2023, Applied Industrial Technologies, Inc. (“Applied”) issued a press release related to its earnings for the fiscal year 2024 first quarter ended September 30, 2023.

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Source: SEC EDGAR

accession 0000109563-23-000103

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