Applied Industrial Technologies Q3 2021 Earnings Report

Applied Industrial Technologies' Q3 2021 performance reflected solid sales growth and improved profitability, driven by recovering end-market demand and effective cost management.

Key Takeaways

Applied Industrial Technologies reported a 1.2% increase in net sales to $840.9 million, with organic daily sales up 0.4%. Net income was $56.1 million, or $1.42 per share, while adjusted net income was $54.1 million, or $1.37 per share. The company highlighted improving end-market demand and a leaner cost structure driving favorable earnings growth.

Net sales increased by 1.2% year-over-year to $840.9 million.

Organic daily sales grew by 0.4%, driven by increases in the Service Center and Fluid Power & Flow Control segments.

Net income was reported as $56.1 million, or $1.42 per share.

Adjusted net income reached $54.1 million, or $1.37 per share, with adjusted EBITDA at $86.8 million.