Applied Industrial Technologies, Inc. Raises Earnings Guidance for the Fiscal Year of 2024
October 26, 2023 at 09:13 am EDT
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Applied Industrial Technologies, Inc. raised earnings guidance for the fiscal year of 2024. For the year, Company now projects EPS of $9.25 to $9.80 (prior $8.80 to $9.55), sales growth of 1% to 4% (prior 0% to 4%) including 0% to 3% on an organic daily basis, and EBITDA margins of 12.0% to 12.3% (prior 11.9% to 12.1%).
Applied Industrial Technologies, Inc. is a value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies. The Companyâs segments include Service Center Based Distribution and Engineered Solutions. The Service Center Based Distribution segment operates through local service centers and distribution centers with a focus on providing products and services addressing the maintenance and repair of motion control infrastructure and production equipment. Its products include industrial bearings, motors, belting, drives, couplings, pumps, linear motion products, hydraulic and pneumatic components, filtration supplies, and hoses. The Engineered Solutions segment includes its operations that specialize in distributing, engineering, designing, integrating, and repairing hydraulic and pneumatic fluid power technologies, and engineered flow control products and services.
APPLIED INDUSTRIAL TECHNOLOGIES, INC. 
