Recap: Applied Industrial Q3 Earnings

Shares of Applied Industrial AIT fell 0.2% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share were up 34.31% year over year to $1.37, which beat the estimate of $1.03.

Revenue of $840,937,000 rose by 1.22% year over year, which beat the estimate of $814,900,000.

Guidance

Applied Industrial Technologies sees Q4 sales growth of 12-13% year over year.

Conference Call Details

Date: Apr 29, 2021

Time: 10:00 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Fir.applied.com%2F&eventid=3079960&sessionid=1&key=6699441D621B366670332E94FDB5D80F&regTag=&V2=false&sourcepage=register

Technicals

Company's 52-week high was at $97.59

Company's 52-week low was at $45.95

Price action over last quarter: Up 35.62%

Company Profile

Applied Industrial Technologies Inc is a distributor of industrial products to the maintenance, repair, and operations market and the original equipment manufacturing industry. Further, the company provides engineering and design services for industrial and fluid power applications. The products include bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion components, safety products, oilfield supplies, and other industrial and maintenance supplies. Fluid products include hydraulic, pneumatic, lubrication, and filtration systems and components. Applied Industrial Technologies operates primarily in North America, Australia, and New Zealand.