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Recap: Applied Industrial Tech Q3 Earnings

Benzinga Insights
·1 min read

Shares of Applied Industrial Tech (NYSE:AIT) were flat in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share were down 12.07% over the past year to $1.02, which beat the estimate of $1.01.

Revenue of $830,797,000 lower by 6.17% year over year, which missed the estimate of $858,980,000.

Outlook

Applied Industrial Tech hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Apr 30, 2020

View more earnings on AIT

Time: 12:04 PM ET

Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Fir.applied.com%2Fevents-and-presentations%2Fdefault.aspx&eventid=2307424&sessionid=1&key=E3E7EC27C41BBA23F89F93A096B9FAE1&regTag=&sourcepage=register

Recent Stock Performance

52-week high: $70.62

Company's 52-week low was at $30.66

Price action over last quarter: down 15.82%

Company Overview

Applied Industrial Technologies Inc is a distributor of industrial products to the maintenance, repair, and operations market and the original equipment manufacturing industry. Further, the company provides engineering and design services for industrial and fluid power applications. The products include bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion components, safety products, oilfield supplies, and other industrial and maintenance supplies. Fluid products include hydraulic, pneumatic, lubrication, and filtration systems and components. Applied Industrial Technologies operates primarily in North America, Australia, and New Zealand.

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