Brief: Applied Industrial Technologies Reports Q2 Earnings Per Share $0.97

Applied Industrial Technologies

23/01/2020 11:59

Jan 23 (Reuters) - Applied Industrial Technologies Inc
 AIT.N :
    * APPLIED INDUSTRIAL TECHNOLOGIES REPORTS FISCAL 2020 SECOND
QUARTER RESULTS
    * Q2 EARNINGS PER SHARE $0.97
    * Q2 SALES $833.4 MILLION VERSUS REFINITIV IBES ESTIMATE OF
$833.1
MILLION
    * Q2 EARNINGS PER SHARE ESTIMATE $0.95 -- REFINITIV IBES
DATA
    * QUARTERLY DIVIDEND INCREASED TO $0.32 PER SHARE
    * FISCAL 2020 GUIDANCE UPDATED, RANGE NARROWED
    * APPLIED INDUSTRIAL TECHNOLOGIES -2020 GUIDANCE NOW ASSUMES
NON-GAAP ADJUSTED EPS OF $4.20 TO $4.40
    * REAFFIRM OUR FREE CASH GUIDANCE OF $200 MILLION TO $220
MILLION,
UP 30% AT MIDPOINT FOR 2020
    * SEES 2020 NON-GAAP ADJUSTED EPS OF $4.20 TO $4.40
    * SEES SALES DOWN 2% TO 0% IN 2020
    * 2020 ADJUSTED EPS RANGES EXCLUDE FISCAL Q1 RESTRUCTURING
EXPENSES
    * APPLIED INDUSTRIAL TECHNOLOGIES - RECENT QUARTER IMPACTED
BY AN
UNUSUALLY SLOW DECEMBER
    * FY2020 EARNINGS PER SHARE VIEW $4.34, REVENUE VIEW $3.48
BILLION
-- REFINITIV IBES DATA

Source text for Eikon:  ID:nBwjMdBda 
Further company coverage:  AIT.N 

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