Applied Industrial Technologies Inc reports results for the quarter ended in December - Earnings Summary

Applied Industrial Technologies

25/01/2024 14:31

* Applied Industrial Technologies Inc  AIT.N  reported
quarterly
adjusted earnings of $2.32​​ per share for the quarter ended in
December, higher than the same quarter last year, when the
company reported EPS of $2.05.  The mean expectation of
three analysts for the quarter was for earnings of $2.11 per
share. Wall Street expected results to range from $2.10 
to $2.11 per share.
    * Revenue rose 1.6% to $1.08 billion from a year ago;
analysts
expected $1.06 billion. 
    * Applied Industrial Technologies Inc's reported EPS for the
quarter was $2.32​.
    * The company reported quarterly net income of $88.2
million.
    * Applied Industrial Technologies Inc shares had risen
by 1.6%
this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged in
the last
three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * 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 average consensus recommendation for the industrial
machinery & equipment peer group is also "buy"

Wall Street's median 12-month price target for Applied
Industrial Technologies Inc is $190.00 
This summary was machine generated from LSEG data January 25 at
02:30 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      2.11           2.32           Beat
 Sep. 30 2023      2.09           2.37           Beat
 Jun. 30 2023      2.17           2.35           Beat
 Mar. 31 2023      2.15           2.47           Beat