Applied Industrial Technologies, Inc. (NYSE:AIT) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Applied Industrial Technologies, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 0% to $0.69 in the quarter versus EPS of $0.69 in the year-earlier quarter.
Revenue: Rose 2.68% to $621.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Applied Industrial Technologies, Inc. reported adjusted EPS income of $0.69 per share. By that measure, the company beat the mean analyst estimate of $0.68. It missed the average revenue estimate of $630.46 million.
Quoting Management: There was no comment from the management.
Key Stats (on next page)…