Applied Industrial Technologies Inc expected to post earnings of $2.17 a share - Earnings Preview

Applied Industrial Technologies

08/08/2023 17:53

* Applied Industrial Technologies Inc  AIT.N   AIT  is
expected
to show a rise in quarterly revenue when it reports  results on
August 10. 
    * The Cleveland Ohio-based  company is expected to report  a
5.1% increase in revenue to $1.116 billion from $1.06 billion a
year ago, according to the mean estimate from 2 analysts, based
on Refinitiv data. The company's guidance on April 27 2023, for
the period ended June 30, was for revenue between $1.08 billion
and $1.11 billion.
    * ​Refinitiv's mean analyst estimate for Applied Industrial
Technologies Inc is for earnings of $2.17 per share. 
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell."  
    * The mean earnings estimate of analysts was unchanged in
the last
three months. ​
    * Wall Street's median 12-month price target for Applied
Industrial Technologies Inc is $162​, above​ its last closing
price of $142.54. ​​​

The company's guidance on May 19 2023 for the period ended June
30 was for Earnings before Interest, Taxes, Depreciation and
Amortization of between USD1.08269 billion and USD129.29
million.
Previous quarterly performance (using preferred earnings measure
in US dollars). ​
 QUARTER       STARMINESM  REFINITIV  ACTUAL    BEAT,   SURPRI
 ENDING        ARTESTIMAT  IBES                 MET,    SE %
               E®          ESTIMATE             MISSED  
 Mar. 31 2023  2.16        2.15       2.47      Beat    14.7
 Dec. 31 2023  1.69        1.67       2.05      Beat    23
 Sep. 30 2022  1.63        1.63       1.97      Beat    20.6​
 Jun. 30 2022  1.66        1.66       2.02      Beat    21.4
 ​​Mar.        1.51        1.52       1.75      Beat    15.5
 31 2022                                                
 Dec. 31 2021  1.08        1.08       1.46      Beat    35.5​
 Sep. 30 2021  1.25        1.26       1.43      Beat    13.3
 Jun. 30 2021  1.16        1.15       1.44      Beat    24.9
 This summary was machine generated August 8 at 16:53 GMT.  All
figures in US dollars  unless otherwise stated