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AIT - Applied Industrial Technologies Non-GAAP EPS of $2.24 beats by $0.13 revenue of $1.08B beats by $20M
Applied Industrial Technologies Inc.
2024-01-25 06:33:31 ET
Applied Industrial Technologies press release ( NYSE: AIT ): Q2 Non-GAAP EPS of $2.24 beats by $0.13 .
Revenue of $1.08B (+1.9% Y/Y) beats by $20M .
Quarterly Dividend Increased 6% to $0.37 Per Share
For fiscal 2024, the Company now projects EPS of $9.35 to $9.70 on an adjusted basis (prior $9.25 to $9.80), sales growth of 1% to 3% (prior 1% to 4%) including 0% to 2% on an organic daily basis, and EBITDA margins of 12.1% to 12.3% (prior 12.0% to 12.3%). Updated adjusted EPS guidance excludes the $3.0 million tax benefit in the fiscal 2024 second quarter related to a deferred tax valuation allowance adjustment.