Published on 25 Apr 2024 on GuruFocus.com via Yahoo Finance
Applied Industrial Technologies (AIT) Q3 Earnings: Surpasses EPS Estimates and Announces ...
Revenue: Reported at $1.1 billion, up 1.3% year-over-year, slightly below the estimate of $1.1318 billion.Net Income: $97.2 million, exceeding the estimated $94.63 million.Earnings Per Share (EPS): $2.48, surpassing the estimated $2.40.Free Cash Flow: Posted $76.7 million for the quarter.Operating Cash Flow: Achieved $84.2 million.Acquisition: Signed agreement to acquire Grupo Kopar, aiming to expand automation platform.Fiscal 2024 Guidance: Updated EPS guidance to $9.55 to $9.70, with sales growth projected at 1.5% to 2.5%.
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