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Sep 30, 2021
Applied Industrial Technologies Q1 2022 Earnings Report
Achieved record first quarter levels in sales, EBITDA, and EPS.
Key Takeaways
Applied Industrial Technologies reported a strong start to fiscal 2022, with net sales increasing by 19.2% to $891.7 million and net income reaching $53.0 million, or $1.36 per share.
Net sales increased 19.2% year-over-year to $891.7 million.
Organic sales grew by 16.3%.
Net income was reported at $53.0 million, or $1.36 per share.
Fiscal 2022 guidance was maintained, including EPS of $5.00 to $5.40.
Applied Industrial Technologies
Applied Industrial Technologies
Forward Guidance
The Company is maintaining guidance for fiscal 2022 including EPS of $5.00 to $5.40, sales growth of 8% to 10% (7% to 9% on an organic basis), and EBITDA margins of 9.7% to 9.9%.