Applied Industrial Technologies Inc reports results for the quarter ended December 31 - Earnings Summary

• Applied Industrial Technologies Inc AIT.N reported quarterly adjusted earnings of $2.39​​ per share for the quarter ended December 31, higher than the same quarter last year, when the company reported EPS of $2.32. The mean expectation of eight analysts for the quarter was for earnings of $2.21 per share. Wall Street expected results to range from $2.16 to $2.25 per share.

• Revenue fell 0.4% to $1.07 billion from a year ago; analysts expected $1.08 billion.

• Applied Industrial Technologies Inc's reported EPS for the quarter was $2.39​.

• The company reported quarterly net income of $93.29 million.

• Applied Industrial Technologies Inc shares had risen by 5.3% this quarter.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 0.2% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy," 1 "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 $305.00

This summary was machine generated from LSEG data January 29 at 02:31 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)