Industry Overview - The Zacks Manufacturing – General Industrial industry is expected to grow due to easing supply-chain disruptions, despite a slowdown in manufacturing activities [1] - Key players in the industry include Parker-Hannifin Corporation, IDEX Corporation, Applied Industrial Technologies, Inc., and Flowserve Corporation, which are likely to capitalize on current opportunities [1][2] Current Trends - The manufacturing sector has shown persistent weakness, with the Manufacturing Purchasing Manager's Index at 49.1% in January, indicating contraction for the 15th consecutive month; however, new orders increased by 4.7 percentage points from December 2023, suggesting gradual improvement [3] - Supply-chain disruptions are easing, particularly in electronic components, with the Supplier Deliveries Index reflecting faster deliveries for the 16th straight month in January, which is expected to support growth in 2024 [4] - Companies are focusing on acquisition-based growth strategies to expand their networks and product offerings, which helps mitigate risks associated with reliance on a single market [5] Industry Performance - The Zacks Manufacturing – General Industrial industry ranks 71, placing it in the top 28% of over 250 Zacks industries, indicating bright near-term prospects [6] - Over the past year, the industry has appreciated by 15%, outperforming the broader sector but lagging behind the S&P 500 Index, which grew by 20.8% [7] Valuation Metrics - The industry is currently trading at a forward 12-month Price-to-Earnings (P/E) ratio of 21.15X, higher than the S&P 500's 20.52X and the sector's 17.21X [8] Notable Companies - **Parker-Hannifin Corporation**: Benefits from steady demand and higher orders, with a 45.3% share price increase over the past year; earnings estimates for fiscal 2024 have improved by 2.7% [10][11] - **IDEX Corporation**: Expected to benefit from a diversified business structure and recent acquisition; shares have declined by 2.5% over the past year but recovered by 3.8% in the past month [12] - **Applied Industrial Technologies, Inc.**: Anticipates 1-3% year-over-year sales growth for fiscal 2024, with a 25.7% share price increase over the past year [13] - **Flowserve Corporation**: Thriving due to strong manufacturing and aftermarket activity, with a 17.6% share price increase over the past year [14]

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task.By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.However, the Zacks Growth Style Score (part of the Zacks Style Scores ...

(Mark One) Table of Contents ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q For the quarterly period ended DECEMBER 31, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ For the transition period from ___ to ___ Commission file number 1-2299 APPLIED INDUSTRIAL TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Ohi ...

Applied Industrial Technologies (AIT) reported second-quarter fiscal 2024 (ended Dec 31, 2023) earnings of $2.24 per share, which surpassed the Zacks Consensus Estimate of $2.11. The bottom line jumped 9.3% year over year.Net sales of $1,077.2 million outperformed the consensus estimate of $1,061 million. The top line inched up 1.6% year over year. Acquisitions boosted the top line by 1.4%, while foreign-currency translation had a positive impact of 0.3%. However, organic sales decreased 0.1% year over year ...

Applied Industrial Technologies, Inc. (NYSE:AIT) Q2 2024 Earnings Conference Call January 25, 2024 10:00 AM ET Company Participants Ryan Cieslak – Director-Investor Relations and Treasury Neil Schrimsher – President and Chief Executive Officer Dave Wells – Chief Financial Officer Conference Call Participants David Manthey – Baird Chris Dankert – Loop Capital Ken Newman – KeyBanc Operator Welcome to the Fiscal 2024 Second Quarter Earnings Call for Applied Industrial Technologies. My name is Rob and I'll be y ...

We Keep Industry Running Investor Presentation Safe Harbor Statement This presentation contains statements that are forward-looking, as that term is defined by the Securities and Exchange Commission in its rules, regulations and releases. Applied intends that such forward-looking statements be subject to the safe harbors created thereby. Forward-looking statements are often identified by qualifiers such as “believe,” “expect,” “outlook,” “project” “guidance,” “target,” “objectives,” “will” and derivative or ...

Applied Industrial Technologies (AIT) came out with quarterly earnings of $2.24 per share, beating the Zacks Consensus Estimate of $2.11 per share. This compares to earnings of $2.05 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.16%. A quarter ago, it was expected that this industrial products company would post earnings of $2.07 per share when it actually produced earnings of $2.39, delivering a surprise of 15.46%.Over th ...

CLEVELAND--(BUSINESS WIRE)--Applied Industrial Technologies (NYSE: AIT), a leading value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies, today reported results for its fiscal 2024 second quarter ended December 31, 2023. Net sales for the quarter of $1.1 billion increased 1.6% over the prior year. The change includes a 1.4% increase from acquisitions and a 0.3% increase from foreign currency transl ...

Company Performance - Applied Industrial Technologies (AIT) shares have increased by 2.1% over the past month and reached a new 52-week high of $178.17 [1] - Year-to-date, AIT has gained 2.6%, while the Zacks Industrial Products sector and the Zacks Manufacturing - General Industrial industry have returned 14.6% and 23.2%, respectively [1] Earnings and Revenue - AIT has a strong record of positive earnings surprises, having met or exceeded earnings consensus estimates in the last four quarters [2] - In the latest earnings report on October 26, 2023, AIT reported EPS of $2.39, surpassing the consensus estimate of $2.07, and beat the revenue estimate by 0.37% [2] - For the current fiscal year, AIT is expected to post earnings of $9.43 per share on revenues of $4.54 billion, reflecting a 7.77% change in EPS and a 2.83% change in revenues [2] - For the next fiscal year, earnings are projected to be $9.52 per share on revenues of $4.64 billion, indicating a year-over-year change of 0.95% in EPS and 2.22% in revenues [2] Valuation Metrics - AIT currently trades at 18.8X current fiscal year EPS estimates, below the peer industry average of 20.7X [4] - On a trailing cash flow basis, AIT trades at 17.2X compared to the peer group's average of 13.7X, suggesting it is not in the top echelon from a value perspective [4] - AIT has a Value Score of B, a Growth Score of B, and a Momentum Score of F, resulting in a combined VGM Score of B [3] Zacks Rank - AIT holds a Zacks Rank of 2 (Buy) due to rising earnings estimates, meeting the criteria for investors seeking stocks with strong potential [5] - The recommendation is to select stocks with Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, indicating AIT has room for further growth [5] Industry Comparison - The Manufacturing - General Industrial industry is in the top 29% of all industries, providing favorable conditions for AIT and its peers [7] - Parker-Hannifin Corporation (PH), a peer, also has a Zacks Rank of 2 (Buy) and is expected to post earnings of $23.23 per share on revenues of $19.97 billion for the current fiscal year [6]

When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate rev ...