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Sep 30, 2022
Applied Industrial Technologies Q1 2023 Earnings Report
Reported a strong start to fiscal year 2023 with sales and EBITDA growth sustaining solid momentum across both segments.
Key Takeaways
Applied Industrial Technologies reported a strong first quarter with net sales up 19.1% to $1.1 billion and EPS up 45% to $1.97. The company is raising its fiscal year 2023 guidance following the strong performance.
Net sales increased 19.1% year-over-year to $1.1 billion.
Net income was $76.9 million, with EPS of $1.97, up 45.0% year-over-year.
EBITDA increased 34.2% year-over-year to $118.7 million.
Fiscal year 2023 guidance was raised following first quarter performance.
Applied Industrial Technologies
Applied Industrial Technologies
Applied Industrial Technologies Revenue by Segment
Revenue by Segment
Engineered Solutions Revenue
CapyFin.comService Center Revenue
CapyFin.com Forward Guidance
The Company now projects EPS of $6.90 to $7.55, sales growth of 5% to 9%, including 6% to 10% on an organic basis and EBITDA margins of 10.9% to 11.2%.
Positive Outlook
- EPS of $6.90 to $7.55
- Sales growth of 5% to 9%
- Organic sales growth of 6% to 10%
- EBITDA margins of 10.9% to 11.2%
- Organic sales month to date in October are up by approximately 20% year-over-year
Challenges Ahead
- Ongoing economic uncertainty
- Inflationary pressures
- Supply chain headwinds
- Guidance does not assume contribution from potential future acquisitions
- Mindful of ongoing macro uncertainty that could slow industrial activity and growth in coming quarters
Revenue & Expenses
Visualization of income flow from segment revenue to net income