Applied Industrial Technologies Inc AIT:NYSE

Last Price$80.52NYSE Previous Close - Last Trade as of 5:00PM ET 11/27/20
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Volume53.6 K

Applied Industrial Fiscal Q4 Adjusted EPS Beats Street View; Sales Miss

6:57AM ET 8/12/2020 MT Newswires
Applied Industrial Technologies (AIT), a US-based company focused on the distribution of bearings and power transmission products, reported early Wednesday fiscal Q4 adjusted EPS of $0.80, beating the $0.69 average estimate of analysts polled by Capital IQ.

Sales totaled $725.1 million for the June quarter, down from $882.7 million for the prior-year quarter. That came below the $739.4 million Street consensus.

The company said in a statement that due to ongoing uncertainty from the COVID-19 pandemic, it is refraining from providing formal guidance for fiscal-year 2021 until it further assesses the direction of industrial activity.

Shares were inactive in pre-bell trading. The stock has gained 3.6% this year through Tuesday's closing, slightly outperforming the S&P 500 Index, which has risen 3.2%.

Price: 69.05, Change: +0.38, Percent Change: +0.55