Applied Industrial Technologies Q2 2020 Earnings Report
Key Takeaways
Applied Industrial Technologies reported net sales of $833.4 million, a decrease of 0.8% year-over-year. Net income was $38.0 million, or $0.97 per share. The company updated its fiscal 2020 guidance, narrowing the range for non-GAAP adjusted EPS to $4.20 to $4.40.
Net sales decreased 0.8% year-over-year to $833.4 million.
Net income was $38.0 million, with EPS of $0.97.
Cash from operations was $54.9 million, and free cash flow was $47.9 million.
The company increased the quarterly dividend to $0.32 per share.
Applied Industrial Technologies
Applied Industrial Technologies
Forward Guidance
The Company is updating fiscal 2020 guidance following performance year to date and ongoing end-market uncertainty. Guidance now assumes non-GAAP adjusted EPS of $4.20 to $4.40 on a change in sales of down 2% to 0%, including down 5% to down 3% on an organic daily basis.