Applied Industrial Technologies Inc

Latest Results (20.12.2024):

Net Sales

In the fiscal 2025 first quarter, Applied Industrial Technologies Inc reported net sales of $1.1 billion, marking a 0.3% increase compared to the previous year. This growth was influenced by a 2.0% increase from acquisitions and a 1.6% benefit from an additional selling day, though it was partially offset by a 0.3% negative impact from foreign currency translation. On an organic daily basis, sales decreased by 3.0%, with the Service Center segment down by 1.4% and the Engineered Solutions segment down by 6.1%.

Net Income

Applied Industrial Technologies Inc's net income for the fiscal 2025 first quarter was $92.1 million, or $2.36 per share, reflecting a 1.0% decrease year-over-year. The results included a pre-tax LIFO expense of $2.0 million, which equates to $0.04 per share after tax, compared to a $4.6 million LIFO expense, or $0.09 per share after tax, in the same period last year.

EBITDA and Cash Flow

The company reported an EBITDA of $129.0 million for the fiscal 2025 first quarter, which is a 3.3% decrease from the previous year. Operating cash flow was strong at $127.7 million, and free cash flow nearly doubled from the prior year, reaching $122.2 million, setting a record for the first quarter.

Fiscal 2025 Guidance

Applied Industrial Technologies Inc has modestly increased its fiscal 2025 EPS guidance to a range of $9.25 to $10.00, up from the previous range of $9.20 to $9.95. The company maintains its sales guidance of a range from a 2.5% decrease to a 2.5% increase, including an organic daily basis range from a 4.0% decrease to a 1.0% increase. EBITDA margins are expected to be between 12.1% and 12.3%.

Dividend Announcement

The Board of Directors of Applied Industrial Technologies Inc declared a quarterly cash dividend of $0.37 per common share. This dividend is payable on November 29, 2024, to shareholders of record as of November 15, 2024, reflecting the company's commitment to returning value to its shareholders.