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Applied Industrial Technologies, Inc. (NYSE: AIT) is a leading industrial distributor that provides over five million parts to maintenance, repair, and operations (MRO) and original equipment manufacturing (OEM) customers across virtually every industry. With fiscal 2014 sales of $2.5 billion, the company supplies critical products and services, including bearings, power transmission components, fluid power systems, industrial rubber products, and linear motion components. Applied Industrial Technologies also offers engineering, design, and systems integration services for industrial and fluid power applications, as well as customized mechanical and rubber fabrication services. Its offerings extend to maintenance training and inventory management solutions, adding significant value to its clientele.
The company operates more than 560 facilities and nine distribution centers, primarily in North America, Australia, and New Zealand. This extensive network supports a robust supply chain and ensures timely delivery of essential components. Recently, Applied Industrial Technologies has reported significant financial growth, with net sales reaching $1.1 billion, a 15.4% year-over-year increase, and net income of $97.2 million. The company’s EBITDA also saw a 29.2% increase to $140.3 million.
Applied continues to innovate and expand its services, as evidenced by the recent acquisition of Grupo Kopar, enhancing its automation platform and footprint in Mexico. The company's commitment to sustainability and responsible business practices is highlighted in its 2023 Environmental, Social & Governance (ESG) Report. The company’s strategic initiatives and robust financial health position it favorably within the industrial sector.
For more information, visit www.applied.com.
Applied Industrial Technologies (NYSE: AIT) will release its fiscal 2022 third quarter financial results on April 28, 2022, before the market opens. The quarter ended on March 31, 2022. A conference call for analysts and investors will occur at 10 a.m. ET on the same day. Interested parties can access the call by dialing 877-311-4351 (toll-free) or 614-999-9139 (International), using conference ID 2092603. A webcast and supplementary presentation will be available on the company’s Investor Relations website.
Applied Industrial Technologies (NYSE: AIT) has launched its fourth edition of the Applied Maintenance Supplies & Solutions Master Product Catalog, featuring over 47,000 items tailored for MROP customers. Enhancements include full-color images and hundreds of new products across categories like Fasteners, Electrical, and Safety. The catalog simplifies product selection for maintenance professionals, promising reduced downtime and increased productivity. Customers can access the digital catalog online or via the mobile app, and printed versions are available upon request.
Applied Industrial Technologies reported a strong second quarter for fiscal 2022, with net sales reaching $876.9 million, up 16.7% year-over-year. The net income was $57.0 million, translating to $1.46 per share. EBITDA stood at $92.6 million. The company raised its fiscal 2022 guidance, now expecting EPS between $5.70 and $5.90 and sales growth of 11.5% to 12.5%. A quarterly dividend was also increased to $0.34 per share, marking the 13th increase since 2010.
Applied Industrial Technologies (NYSE: AIT) will release its fiscal 2022 second quarter financial results on January 27, 2022, before market opening. The period ended on December 31, 2021. A conference call is scheduled for 10 a.m. ET that same day, where the company will discuss performance and outlook. The supplemental presentation will be available on the Investor Relations section of the company’s website. Interested parties can join the call by dialing 877-311-4351 (toll-free) or 614-999-9139 (international).
Applied Industrial Technologies (NYSE: AIT) reported a robust fiscal Q1 2022, with net sales reaching $891.7 million, a 19.2% increase year-over-year. Organic sales growth stood at 16.3%, driven by substantial gains in the Service Center and Fluid Power segments. The company achieved a net income of $53.0 million, or $1.36 per share, alongside an EBITDA of $88.5 million. Fiscal 2022 guidance remains steady with an EPS forecast between $5.00 and $5.40. Despite supply chain challenges, the outlook for growth appears positive, supported by strong cash flow and inventory levels.
Applied Industrial Technologies (NYSE: AIT) will release its fiscal 2022 first quarter financial results on October 27, 2021, before market open. The quarter ended on September 30, 2021. A conference call is scheduled for 10 a.m. ET on the same day to discuss performance and outlook. Interested parties can join the call via the provided dial-in numbers or access a live audio webcast on the company’s investor relations website. A supplemental presentation will also be available online.
Applied Industrial Technologies (NYSE: AIT) has been awarded the NorthCoast 99 Platinum Award for 2021, marking its 20th recognition as one of Northeast Ohio's best workplaces. This accolade reflects the company's strong commitment to attracting, developing, and retaining top talent through comprehensive training programs and a supportive workplace culture. The NorthCoast 99 program honors organizations for their effectiveness in employee engagement, well-being, diversity, and overall talent management.
Applied Industrial Technologies (NYSE: AIT) has acquired R.R. Floody Company, enhancing its automation offerings in machine vision, robotics, and motion control. Although the transaction terms were not disclosed, the acquisition is expected to bolster Applied's presence in the U.S. Midwest market. Floody specializes in advanced facility automation and serves diversified industries, including food and beverage and medical technology. This strategic move aligns with Applied's objectives to scale its automation capabilities into early fiscal 2022.
Applied Industrial Technologies (AIT) reported strong fiscal 2021 Q4 results, with net sales rising 23.6% to $895.9 million, driven by organic growth of 19.8%. Net income reached $59.2 million ($1.51 per share), aided by a LIFO liquidation benefit. For the fiscal year, sales slightly decreased by 0.3% to $3.2 billion, while non-GAAP adjusted net income was $186.4 million ($4.74 per share). For fiscal 2022, AIT predicts EPS of $5.00 to $5.40, with sales growth of 8% to 10%. The company also repurchased 400,000 shares for $40.1 million.
Applied Industrial Technologies (NYSE: AIT) has rescheduled its fiscal 2021 fourth quarter and full-year earnings release to August 17, 2021, prior to market opening. The subsequent conference call will occur at 10 a.m. ET on the same day to discuss their performance and future outlook, with a detailed presentation available on their Investor Relations website. The call can be accessed via phone or through a live audio webcast, ensuring investors and analysts can participate effectively.
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