Applied Industrial's (AIT) Shares Up On Q2 Earnings Beat
Zacks Investment Research | Jan 28, 2018 08:44PM ET
Applied Industrial Technologies, Inc.’s (NYSE:AIT) revenues and earnings in second-quarter fiscal 2018 (ended Dec 31, 2017) surpassed the respective Zacks Consensus Estimates. The figures also improved year over year.
The stock gained 1.8% to $74.70 per share as of Jan 25, 2018, post announcement of the impressive quarterly results.
Earnings and Revenues
Quarterly adjusted earnings came in at 77 cents per share, comfortably surpassing the Zacks Consensus Estimate of 71 cents. The bottom line also came in higher than the year-ago tally of 61 cents per share.
Net sales during the quarter came in at $667.2 million, beating the Zacks Consensus Estimate of $651 million. In addition, the top line came in higher than the prior-year figure of $608.1 million. The upswing stemmed from elevated acquisition-related volume and favorable foreign currency-translation impact.
The company’s quarterly organic sales improved 8% year over year.
Segmental Details
Revenues of the Service Center Based Distribution segment came in at $555.6 million, up 8% year over year. Also, aggregate sales of the Fluid Power Businesses segment were $111.6 million, up 19% year over year.
Applied Industrial Technologies, Inc. Price, Consensus and EPS Surprise
Barnes Group, Inc. (NYSE:B) also holds a Zacks Rank of 2, at present. The company’s EPS is predicted to rise 10% over the next three to five years.
EnPro Industries (NYSE:NPO) carries a Zacks Rank of 2. The company’s EPS is estimated to record 15.5% growth during the same time frame.
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