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Applied Industrial Technologies, Inc. - AIT STOCK NEWS

Welcome to our dedicated page for Applied Industrial Technologies news (Ticker: AIT), a resource for investors and traders seeking the latest updates and insights on Applied Industrial Technologies stock.

Applied Industrial Technologies, Inc. (NYSE: AIT) is a leading industrial distributor that provides over five million parts to maintenance, repair, and operations (MRO) and original equipment manufacturing (OEM) customers across virtually every industry. With fiscal 2014 sales of $2.5 billion, the company supplies critical products and services, including bearings, power transmission components, fluid power systems, industrial rubber products, and linear motion components. Applied Industrial Technologies also offers engineering, design, and systems integration services for industrial and fluid power applications, as well as customized mechanical and rubber fabrication services. Its offerings extend to maintenance training and inventory management solutions, adding significant value to its clientele.

The company operates more than 560 facilities and nine distribution centers, primarily in North America, Australia, and New Zealand. This extensive network supports a robust supply chain and ensures timely delivery of essential components. Recently, Applied Industrial Technologies has reported significant financial growth, with net sales reaching $1.1 billion, a 15.4% year-over-year increase, and net income of $97.2 million. The company’s EBITDA also saw a 29.2% increase to $140.3 million.

Applied continues to innovate and expand its services, as evidenced by the recent acquisition of Grupo Kopar, enhancing its automation platform and footprint in Mexico. The company's commitment to sustainability and responsible business practices is highlighted in its 2023 Environmental, Social & Governance (ESG) Report. The company’s strategic initiatives and robust financial health position it favorably within the industrial sector.

For more information, visit www.applied.com.

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Applied Industrial Technologies (NYSE: AIT) has declared a quarterly cash dividend of $0.37 per common share, payable on August 30, 2024, to shareholders of record as of August 15, 2024. Additionally, the company will hold its Annual Meeting of Shareholders on October 22, 2024, at its Corporate Headquarters in Cleveland, Ohio. Shareholders of record as of August 26, 2024, will be entitled to notice of and voting rights at the meeting.

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Applied Industrial Technologies has completed the acquisition of Grupo Kopar, a provider of automation technologies based in Monterrey, Mexico. The transaction closed on May 1st, with no disclosed terms. The move aims to expand Applied's automation platform into Mexico, leveraging Kopar's expertise in robotics, machine vision, and IoT applications. Kopar is projected to enhance Applied's sales and earnings growth through fiscal 2025, with expected annual sales of around $60 million in the first year.

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Applied Industrial Technologies reported a 1.3% increase in net sales to $1.1 billion in fiscal 2024 third quarter, with net income of $97.2 million and EBITDA of $135.7 million. The company signed an agreement to acquire Grupo Kopar to expand its automation platform. The updated fiscal 2024 guidance projects adjusted EPS of $9.55 to $9.70, sales growth of 1.5% to 2.5%, and EBITDA margins of 12.0% to 12.1%.
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Applied Industrial Technologies (AIT) to release fiscal 2024 third quarter results on April 25, 2024. Conference call scheduled to discuss results and outlook.
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Applied Industrial Technologies (AIT) reported net sales of $1.1 billion, up 1.6% YoY, with net income of $91.2 million. The company also updated its fiscal 2024 guidance, increased the quarterly dividend, and reported a 6% increase in quarterly sales.
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Applied Industrial Technologies (AIT) will release its fiscal 2024 second quarter results on January 25, 2024, before the market opens. The quarterly conference call will discuss the Company’s financial performance and outlook. The latest quarter results will be available on the Investor Relations portion of the Company’s website at www.applied.com. Investors can join the call via telephone or access a live audio webcast online through the investor relations portion of the Company’s website. Replays of the call will also be available via webcast and telephone for one week.
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Applied Industrial Technologies reports Q1 2024 results with net sales of $1.1 billion, up 3.1% YoY. Net income of $93.8 million, up 21.3% YoY. Raising fiscal 2024 guidance.
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Applied Industrial Technologies to release fiscal 2024 Q1 results
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Applied Industrial Technologies releases its 2023 ESG Report, highlighting progress and initiatives in sustainability and socially responsible practices.
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Applied Industrial Technologies acquires Bearing Distributors and Cangro Industries to strengthen its service center network
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FAQ

What does Applied Industrial Technologies, Inc. do?

Applied Industrial Technologies, Inc. is a leading industrial distributor providing over five million parts and offering engineering, design, and systems integration services for industrial and fluid power applications.

Where does Applied Industrial Technologies operate?

Applied Industrial Technologies operates primarily in North America, Australia, and New Zealand, with over 560 facilities and nine distribution centers.

What are the company's recent financial achievements?

The company reported net sales of $1.1 billion and net income of $97.2 million, with an EBITDA increase of 29.2% to $140.3 million.

What services does Applied Industrial Technologies provide?

The company provides industrial products, engineering and design services, customized mechanical and rubber fabrication services, maintenance training, and inventory management solutions.

What are the recent acquisitions of Applied Industrial Technologies?

Applied recently acquired Grupo Kopar, expanding its automation platform and footprint in Mexico.

What is the company's stance on sustainability?

Applied Industrial Technologies is committed to sustainability and responsible business practices, as detailed in its 2023 ESG Report.

How does Applied Industrial Technologies add value to its customers?

The company offers a range of value-added services, including maintenance training, inventory management solutions, and customized engineering and design services.

What industries does Applied Industrial Technologies serve?

The company serves virtually all industrial markets, including automotive, food and beverage, pharmaceutical, and light manufacturing.

What products does Applied Industrial Technologies distribute?

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.

How can I learn more about Applied Industrial Technologies?

For more information, visit their website at www.applied.com.

Applied Industrial Technologies, Inc.

NYSE:AIT

AIT Rankings

AIT Stock Data

7.47B
38.60M
1.25%
94.54%
1.71%
Industrial Machinery and Equipment Merchant Wholesalers
Wholesale Trade
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United States of America
CLEVELAND