secwatch.observer — SEC 8-K summary
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Issuer:     APPLIED INDUSTRIAL TECHNOLOGIES INC (AIT)
CIK:        0000109563
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0000109563-23-000103
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/109563/000010956323000103/0000109563-23-000103-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/109563/000010956323000103/ait-20231026.htm
  HTML page:      https://secwatch.observer/filing/0000109563-23-000103

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