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Dec 31, 2021
Applied Industrial Technologies Q2 2022 Earnings Report
Net sales increased by 16.7% year-over-year, with a 16.4% increase on an organic daily basis, and net income reached $57.0 million, or $1.46 per share.
Key Takeaways
Applied Industrial Technologies reported strong second-quarter results with significant increases in sales, EBITDA, and EPS compared to the prior year. The company raised its fiscal year 2022 guidance for sales, EBITDA margins, and EPS.
Net sales increased by 16.7% year-over-year to $876.9 million.
Organic daily sales increased by 16.4%.
Net income was reported at $57.0 million, or $1.46 per share.
Fiscal year 2022 guidance was raised for sales, EBITDA margin, and EPS.
Forward Guidance
The Company is raising guidance for fiscal 2022 and now projects EPS of $5.70 to $5.90, sales growth of 11.5% to 12.5% including 10.5% to 11.5% on an organic basis, and EBITDA margins of 10.1% to 10.3%.
Positive Outlook
- EPS of $5.70 to $5.90.
- Sales growth of 11.5% to 12.5%.
- Organic sales growth of 10.5% to 11.5%.
- EBITDA margins of 10.1% to 10.3%.
- Organic sales month to date in January are up by a high single-digit percent year over year.
Challenges Ahead
- Supply chain challenges.
- Inflationary challenges.
- COVID-19 related challenges.
- Guidance does not assume contribution from potential future acquisitions.
- More difficult comparisons
Historical Earnings Impact
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Avg. Return Before/After Earnings
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