Applied Industrial Technologies Fiscal Q4 Results Top Estimates

Applied Industrial Technologies reported fiscal Q4 sales were $681.5 million, an increase of 7.5% from the year-ago period and above the CapIQ mean for $680.2 million. Earnings in the quarter ended June 30 rose to $1.34 per share, including a $0.56 benefit, and up from $0.66 last year. Excluding the benefit, EPS would have been $0.78. Forecasts were for both adjusted and GAAP EPS of $0.77.

For the year, Applied Industrial is forecasting a sales increase in the range of 3.0% to 5.0% and expects EPS in the range of $3.00 to $3.20 per share. The Street has been expecting FY sales of $2.59 billion and EPS of $2.83.

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