Applied Industrial Q2 adj EPS $2.24 +9.3% YoY; raises quarterly dividend 6% to $0.37

APPLIED INDUSTRIAL TECHNOLOGIES INC

2024-Q2 EPS reported $4.71 revenue$2,172,341,000

Net sales $1.1B +1.6% YoY; organic sales -0.1% (Service Center +1.4%, Engineered Solutions -3.0%).
Adjusted EPS $2.24 (+9.3% YoY); net income $91.2M, EBITDA $130.8M (+4.2%).
Operating cash flow $101.8M; free cash flow $96.2M; dividend raised 6% to $0.37/share.
Updated FY2024 guidance: adj EPS $9.35-$9.70 (prior $9.25-$9.80); sales growth 1-3%.
CEO notes steady demand; January organic sales trending down low-single-digit % vs last year.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

APPLIED INDUSTRIAL TECHNOLOGIES INC reported fiscal 2024 second quarter ended December 31, 2023 results: revenue $1.1 Billion, net income $91.2 Million, EPS $2.32 Per Share. Guidance reaffirmed.

Period: fiscal 2024 second quarter ended December 31, 2023
Revenue: $1.1 Billion
Net income: $91.2 Million
EPS: $2.32 Per Share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Applied Industrial Technologies Reports Fiscal 2024 Second Quarter Results • Net Sales of $1.1 Billion Up 1.6% YoY; Down 0.1% on an Organic Basis • Net Income of $91.2 Million, or $2.32 Per Share

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Source: SEC EDGAR

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