Have you evaluated the performance of Applied Industrial Technologies' (AIT) international operations for the quarter ending September 2024? Given the extensive global presence of this industrial products company, analyzing the patterns in international revenues is crucial for understanding its financial strength and potential for growth. In the current global economy, which is more interconnected than ever, a company's success in penetrating international markets is crucial for its financial health and gro ...

Applied Industrial Technologies (AIT) reported $1.1 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 0.3%. EPS of $2.36 for the same period compares to $2.39 a year ago.The reported revenue represents a surprise of +1.20% over the Zacks Consensus Estimate of $1.09 billion. With the consensus EPS estimate being $2.24, the EPS surprise was +5.36%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they co ...

PART I: FINANCIAL INFORMATION [ITEM 1: FINANCIAL STATEMENTS](index=4&type=section&id=Item%201%3A%20Financial%20Statements) Presents unaudited condensed consolidated financial statements for Q1 2024 and 2023, including income, balance sheet, cash flow, and equity, with detailed notes [Condensed Statements of Consolidated Income](index=4&type=section&id=Condensed%20Statements%20of%20Consolidated%20Income) Summarizes the company's financial performance, including net sales, gross profit, operating income, and net income for the quarter Metric (in thousands, except per share) | Metric (in thousands, except per share) | Three Months Ended Sep 30, 2024 | Three Months Ended Sep 30, 2023 | | :-------------------------------------- | :------------------------------ | :------------------------------ | | Net sales | $1,098,944 | $1,095,188 | | Gross profit | $325,082 | $325,082 | | Operating income | $113,172 | $120,680 | | Net income | $92,063 | $93,826 | | Net income per share - diluted | $2.36 | $2.39 | - **Net sales** saw a slight increase of **0.3%** year-over-year, while **operating income** decreased by **6.2%** and **net income** decreased by **1.9%**. **Diluted EPS** also declined by **1.3%**[6](index=6&type=chunk)[60](index=60&type=chunk) [Condensed Statements of Consolidated Comprehensive Income](index=5&type=section&id=Condensed%20Statements%20of%20Consolidated%20Comprehensive%20Income) Presents net income and other comprehensive income/loss components, leading to total comprehensive income for the quarter Metric (in thousands) | Metric (in thousands) | Three Months Ended Sep 30, 2024 | Three Months Ended Sep 30, 2023 | | :------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | :------------------------------ | :------------------------------ | | Net income | $92,063 | $93,826 | | Total other comprehensive loss, before tax | $(11,121) | $(7,304) | | Comprehensive income, net of tax | $83,121 | $86,752 | - **Comprehensive income, net of tax**, decreased by **4.2%** year-over-year, primarily driven by an increase in **total other comprehensive loss** before tax, which rose from **$(7,304) thousand** in 2023 to **$(11,121) thousand** in 2024[9](index=9&type=chunk) [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Details the company's financial position, including assets, liabilities, and shareholders' equity at quarter-end Metric (in thousands) | Metric (in thousands) | September 30, 2024 | June 30, 2024 | | :------------------------------------- | :----------------- | :------------ | | TOTAL ASSETS | $3,003,211 | $2,951,910 | | TOTAL LIABILITIES | $1,251,134 | $1,263,129 | | TOTAL SHAREHOLDERS' EQUITY | $1,752,077 | $1,688,781 | | Cash and cash equivalents | $538,520 | $460,617 | | Total current assets | $1,809,550 | $1,769,901 | | Total current liabilities | $478,300 | $501,100 | - **Total assets** increased by **1.7%** from June 30, 2024, to September 30, 2024, while **total liabilities** decreased by **0.9%**. **Shareholders' equity** increased by **3.7%** over the same period, driven by higher **retained earnings** and **cash balances**[11](index=11&type=chunk)[12](index=12&type=chunk) [Condensed Statements of Consolidated Cash Flows](index=7&type=section&id=Condensed%20Statements%20of%20Consolidated%20Cash%20Flows) Outlines cash flows from operating, investing, and financing activities, showing changes in cash and cash equivalents Metric (in thousands) | Metric (in thousands) | Three Months Ended Sep 30, 2024 | Three Months Ended Sep 30, 2023 | | :------------------------------------------ | :------------------------------ | :------------------------------ | | Net Cash provided by Operating Activities | $127,747 | $66,209 | | Net Cash used in Investing Activities | $(15,216) | $(25,657) | | Net Cash used in Financing Activities | $(34,047) | $(22,483) | | Increase in Cash and Cash Equivalents | $77,903 | $16,379 | - **Net cash provided by operating activities** significantly increased by **93%** year-over-year, primarily due to favorable changes in **working capital**. **Net cash used in investing activities** decreased, while **net cash used in financing activities** increased, largely due to **share repurchases**[15](index=15&type=chunk)[69](index=69&type=chunk)[70](index=70&type=chunk) [Condensed Statements of Shareholders' Equity](index=8&type=section&id=Condensed%20Statements%20of%20Shareholders'%20Equity) Presents changes in shareholders' equity, including retained earnings, treasury shares, and accumulated other comprehensive loss Metric (in thousands) | Metric (in thousands) | September 30, 2024 | June 30, 2024 | | :-------------------------------------------------- | :----------------- | :------------ | | Total Shareholders' Equity | $1,752,077 | $1,688,781 | | Retained Earnings | $2,213,868 | $2,121,838 | | Treasury Shares—at cost | $(576,608) | $(559,269) | | Accumulated other comprehensive loss | $(86,508) | $(77,566) | - **Shareholders' equity** increased by **$63.3 million** from June 30, 2024, to September 30, 2024, driven by **net income** of **$92.1 million**, partially offset by **cash dividends** and purchases of **common stock** for treasury[17](index=17&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Provides detailed explanations and disclosures for the condensed consolidated financial statements [1. BASIS OF PRESENTATION](index=9&type=section&id=Note%201.%20BASIS%20OF%20PRESENTATION) Explains the basis of financial statement preparation, accounting policies, and impact of new accounting guidance - The financial statements are unaudited and prepared in accordance with GAAP for interim financial information. The Company uses the **LIFO method** for U.S. inventories, with **LIFO expense** decreasing from **$4,591 thousand** in Q1 2023 to **$1,976 thousand** in Q1 2024[20](index=20&type=chunk)[21](index=21&type=chunk) - New accounting guidance (ASU 2023-09 for income tax disclosures and ASU 2023-07 for segment disclosures) has been issued, with effective dates in fiscal years beginning after December 15, 2023/2024. The Company has not yet determined the impact[22](index=22&type=chunk) [2. REVENUE RECOGNITION](index=9&type=section&id=Note%202.%20REVENUE%20RECOGNITION) Details revenue recognition policies, including net sales by geographic area, customer industry, and product line Net Sales by Geographic Area (in thousands) | Geographic Areas | Three Months Ended Sep 30, 2024 | Three Months Ended Sep 30, 2023 | | :----------------- | :------------------------------ | :------------------------------ | | United States | $957,233 | $959,358 | | Canada | $71,476 | $75,300 | | Other countries | $70,235 | $60,530 | | Total | $1,098,944 | $1,095,188 | Percentage of Revenue by Major Customer Industry (2024 vs 2023) | Industry | 2024 Total | 2023 Total | | :------------------- | :--------- | :--------- | | General Industry | 36.4 % | 35.5 % | | Industrial Machinery | 12.5 % | 14.1 % | | Food | 11.5 % | 10.3 % | | Metals | 10.3 % | 9.9 % | | Forest Products | 9.2 % | 9.7 % | | Chem/Petrochem | 6.9 % | 7.0 % | | Cement & Aggregate | 5.5 % | 5.2 % | | Transportation | 4.1 % | 3.7 % | | Oil & Gas | 3.6 % | 4.6 % | Percentage of Revenue by Product Line (2024 vs 2023) | Product Line | 2024 Total | 2023 Total | | :--------------------- |

Applied Industrial Technologies (AIT) reported first-quarter fiscal 2025 (ended Sept. 30, 2024) earnings of $2.36 per share, which surpassed the Zacks Consensus Estimate of $2.24. However, the bottom line declined 1.3% year over year.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Net revenues of $1.10 billion beat the consensus estimate of $1.09 billion. The top line inched up 0.3% year over year. Acquisitions boosted the top line by 2%, while foreign-currency translation had a neg ...

Fiscal Q1 2025 Recap October 24, 2024 - The Premier Provider of Advanced Motion, Power, Control, & Automation Solutions to Critical Industrial Infrastructure - Safe Harbor Statement 2 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 qualif ...

Applied Industrial Technologies, Inc. (NYSE:AIT) Q1 2025 Earnings Conference Call October 24, 2024 10:00 AM ET Company Participants Ryan Cieslak - Director of IR, Treasury Neil Schrimsher - President & CEO David Wells - CFO Conference Call Participants David Manthey - Baird Christopher Glynn - Oppenheimer Ken Newman - KeyBanc Brett Linzey - Mizuho Christopher Dankert - Loop Capital Aaron Reed - Northcoast Research Sabrina Abrams - Bank of America Operator Welcome to the Fiscal 2025 First Quarter Earnings Ca ...

EXHIBIT 99.1 Applied Industrial Technologies Reports Fiscal 2025 First Quarter Results • Net Sales of $1.1 Billion Up 0.3% YoY; Down 3.0% on an Organic Daily Basis • Net Income of $92.1 Million, or $2.36 Per Share Down 1.0% YoY • EBITDA of $129.0 Million Down 3.3% YoY • Operating Cash Flow of $127.7 Million; Free Cash Flow of $122.2 Million • Increasing FY25 EPS Guidance to $9.25 to $10.00 • Reiterate FY25 Sales and EBITDA Margin Guidance CLEVELAND, OHIO (October 24, 2024) – Applied Industrial Technologies ...

Applied Industrial Technologies (AIT) came out with quarterly earnings of $2.36 per share, beating the Zacks Consensus Estimate of $2.24 per share. This compares to earnings of $2.39 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.36%. A quarter ago, it was expected that this industrial products company would post earnings of $2.52 per share when it actually produced earnings of $2.64, delivering a surprise of 4.76%.Over the ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Applied Industrial Technologies (AIT) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on October 24, 2024, might help the stock move higher if these key number ...

Applied Industrial Technologies, Inc.’s (AIT) financial stability is challenged by weakness in the Engineered Solutions segment. Elevated labor costs are further putting a strain on the bottom line.Applied Industrial is a distributor of value-added industrial products, including engineered fluid power components, bearings, specialty flow control solutions, power transmission products and miscellaneous industrial supplies. These products are mainly sold to original equipment manufacturers (OEMs) and maintena ...