Applied Industrial Technologies: Fiscal Second Quarter Earnings Overview

Applied Industrial Technologies Reports Strong Second Quarter Earnings

Applied Industrial Technologies Inc., headquartered in Cleveland, announced on Tuesday that it achieved a net profit of $95.3 million for its fiscal second quarter.

The company reported earnings of $2.51 per share, exceeding the consensus forecast of $2.48 per share from analysts polled by Zacks Investment Research.

While quarterly revenue reached $1.16 billion, this figure came in slightly below analyst expectations, which averaged $1.17 billion according to Zacks.

Looking ahead, Applied Industrial Technologies projects its full-year earnings to fall between $10.45 and $10.75 per share.

Since the start of the year, the company's stock price has climbed nearly 10%, and over the past year, shares have gained 8%.

This article was produced by Automated Insights using information from Zacks Investment Research.