Applied Industrial Technologies, Inc. Raises Earnings Guidance for the Year Fiscal Year 2022
April 28, 2022 at 06:30 am EDT
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Applied Industrial Technologies, Inc. raised earnings guidance for the year fiscal year 2022. For the year, the company now projects EPS of $6.15 to $6.25 (prior $5.70 to $5.90), sales growth of 14.8% to 15.3% including 13.6% to 14.1% on an organic basis (prior 11.5% to 12.5% including 10.5% to 11.5% organic).
Applied Industrial Technologies, Inc. is a value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies. The Companyâs segments include Service Center Based Distribution and Fluid Power & Flow Control. The Service Center Based Distribution segment operates through local service centers and distribution centers with a focus on providing products and services addressing the maintenance and repair of motion control infrastructure and production equipment. Its products include motors, belting, and drives. The Engineered Solutions segment includes its operations that specialize in distributing, engineering, designing, integrating, and repairing hydraulic and pneumatic fluid power technologies, and engineered flow control products and services. This segment also includes its operations that focus on advanced automation solutions including machine vision, robotics, and motion control.