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Mar 31, 2024
Applied Industrial Technologies Q3 2024 Earnings Report
Applied Industrial Technologies' Q3 2024 results were reported, with sales exceeding expectations and strategic automation acquisition announced.
Key Takeaways
Applied Industrial Technologies reported a 1.3% increase in net sales to $1.1 billion for Q3 2024. Net income was $97.2 million, or $2.48 per share. The company also announced an agreement to acquire Grupo Kopar to expand its automation platform.
Net sales increased by 1.3% year-over-year to $1.1 billion.
Net income reached $97.2 million, with earnings per share at $2.48.
A definitive agreement was signed to acquire Grupo Kopar, enhancing the automation platform.
Fiscal year 2024 guidance was updated, projecting EPS of $9.55 to $9.70.
Forward Guidance
The company updated its fiscal year 2024 guidance, projecting adjusted EPS of $9.55 to $9.70 and sales growth of 1.5% to 2.5%.
Positive Outlook
- Sales growth of 1.5% to 2.5% is expected.
- Organic daily sales growth of 0.5% to 1.5% is anticipated.
- Adjusted EPS is projected to be $9.55 to $9.70.
- Guidance incorporates current economic uncertainty.
- Guidance assumes easing end-market demand near term.
Challenges Ahead
- Guidance incorporates current economic uncertainty.
- Guidance assumes easing end-market demand near term.
- Ongoing inflationary headwinds are expected.
- Guidance does not assume contribution from Kopar.
- Guidance does not include future acquisitions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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