Applied Industrial Technologies Inc. (AIT) Analyzing Financial Health

Applied Industrial Technologies Inc. (NYSE: AIT) shares surged more than 16% last week, closing at 113.43 on August 12. The results of the second quarter, which revealed consistent demand in numerous areas of business at the same time, were the growth engine.

AIT is a distributor and service provider of industrial technologies. The business reported the fourth quarter and fiscal year 2022 results last week. Total quarterly sales grew 18.5% year on year to 1.1 billion, with full-year sales up 17.8% year on year.

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Organic sales increased over 19% in the fourth quarter, driven by 21% growth in the Service Centers division and 14% growth in the Hydraulics group. Sales surged in the fourth quarter, allowing for record sales, according to management.

Adjusted profits per share were 2.02 in the fourth fiscal quarter and 6.58 for the year, representing increases of 34% and 39%, respectively. EBITDA was 120 million in the fourth quarter, up 26% year on year. At the same time, Applied Industrial Technologies Inc. (AIT) stated that while inflation is a significant concern for the firm, it has been feasible to raise the EBITDA margin thus far.

Applied Industrial Technologies Inc. (AIT) management issued an estimate for the fiscal year 2023, assuming ongoing high demand and sales growth of 3-7%. Earnings per share are estimated to range between 6.65 and 7.3 cents. Management also raised its long-term EBITDA margin objective from 11% to 12%, noting that the EBITDA margin in FY23 is projected to be around 11%.

AIT stock gained 9.65% in the last week and 26.43% in the previous month. During the previous quarter, this company’s stock climbed 9.07%. The stock has gained 19.40% in the previous six months and 24.27% year to date. This stock’s year-to-date (YTD) price performance is presently positive at 10.45% at the time of writing.

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