Applied Industrial (AIT) Earnings Transcript

Year-over-year organic sales trends were stronger in July and August relative to September, though partially reflecting more difficult comparisons later in the quarter. Combined with greater pricing contribution, reported organic sales growth of 3% was the strongest in two years, with the two-year stack trend improving sequentially for the third consecutive quarter. Organic sales growth in the quarter was led by our Service Center segment, with reported growth of 4.4%, accelerating nicely from the low singl ...