Applied Industrial (AIT) Q2 Earnings Beat, Revenues Rise Y/Y

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 ...