Applied Industrial Technologies (AIT) Q4 Earnings Surpass Estimates

Core Viewpoint - Applied Industrial Technologies (AIT) reported quarterly earnings of $2.64 per share, exceeding the Zacks Consensus Estimate of $2.52 per share, and showing an increase from $2.35 per share a year ago [1] Financial Performance - The company achieved an earnings surprise of 4.76% for the quarter, having previously expected earnings of $2.40 per share but delivering $2.48 per share in the prior quarter, resulting in a surprise of 3.33% [1] - Revenues for the quarter ended June 2024 were $1.16 billion, which missed the Zacks Consensus Estimate by 2.20%, remaining unchanged from the previous year's revenues of $1.16 billion [1] - Over the last four quarters, the company has surpassed consensus EPS estimates four times and topped consensus revenue estimates two times [1] Stock Performance - Since the beginning of the year, Applied Industrial Technologies shares have increased by approximately 15.2%, compared to a 14.4% gain in the S&P 500 [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.35 on revenues of $1.12 billion, and for the current fiscal year, it is $10.15 on revenues of $4.64 billion [4] - The estimate revisions trend for the company is currently favorable, resulting in a Zacks Rank 2 (Buy), indicating expected outperformance in the near future [4] Industry Context - The Manufacturing - General Industrial industry, to which Applied Industrial Technologies belongs, is currently ranked in the bottom 32% of over 250 Zacks industries, suggesting potential challenges ahead [5] - Another company in the same industry, Nordson (NDSN), is expected to report quarterly earnings of $2.33 per share, reflecting a year-over-year change of -0.9%, with revenues anticipated to be $655.23 million, up 1% from the previous year [5][6]