Applied Industrial Technologies Inc reports results for the quarter ended in September 30 - Earnings Summary

Applied Industrial Technologies

24/10/2024 17:08

* Applied Industrial Technologies Inc  AIT.N  reported
quarterly
adjusted earnings of $2.36​​ per share for the quarter ended
September 30, lower than the same quarter last year, when the
company reported EPS of $2.39.  The mean expectation of
eight analysts for the quarter was for earnings of $2.25 per
share. Wall Street expected results to range from $2.12 
to $2.35 per share.
    * Revenue rose 0.3% to $1.10 billion from a year ago;
analysts
expected $1.09 billion. 
    * Applied Industrial Technologies Inc's reported EPS for the
quarter was $2.36​.
    * The company reported quarterly net income of $92.06
million.
    * Applied Industrial Technologies Inc shares had risen
by 0.3%
this quarter and gained 29.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 8.1%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 2
"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 $235.00 
This summary was machine generated from LSEG data October 24 at
04:08 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
 Sep. 30 2024      2.25           2.36           Beat
 Jun. 30 2024      2.51           2.64           Beat
 Mar. 31 2024      2.40           2.48           Beat
 Dec. 31 2023      2.11           2.32           Beat