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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.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Applied Industrial Technologies's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

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Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.97%
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Rhea-AI Summary
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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End-of-Day
-3.84%
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Rhea-AI Summary
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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End-of-Day
0.36%
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conferences earnings
Rhea-AI Summary
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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Rhea-AI Sentiment
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0.54%
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.4%
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conferences earnings
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Rhea-AI Summary
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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1.79%
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Rhea-AI Summary
Applied Industrial Technologies to release fiscal 2024 Q1 results
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-0.05%
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conferences earnings
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Rhea-AI Summary
Applied Industrial Technologies releases its 2023 ESG Report, highlighting progress and initiatives in sustainability and socially responsible practices.
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Rhea-AI Sentiment
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-1.13%
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Rhea-AI Summary
Applied Industrial Technologies acquires Bearing Distributors and Cangro Industries to strengthen its service center network
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-1.14%
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Rhea-AI Summary
Applied Industrial Technologies (NYSE: AIT) reports strong fiscal 2023 results with 9.1% increase in net sales in Q4, reaching $1.2 billion. Full-year net sales were up 15.8% YoY at $4.4 billion. The company establishes fiscal 2024 guidance with EPS in the range of $8.80 to $9.55 and targets sales of over $5.5 billion and EBITDA margins of over 13% within the next five years.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.73%
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Applied Industrial Technologies, Inc.

NYSE:AIT

AIT Rankings

AIT Stock Data

7.68B
38.10M
1.25%
95.75%
1.34%
Industrial Machinery and Equipment Merchant Wholesalers
Wholesale Trade
Link
United States of America
CLEVELAND

About AIT

with fiscal 2014 sales of $2.5 billion, applied industrial technologies (nyse: ait) is a leading industrial distributor that offers more than five million parts to serve the needs of mro and oem customers in virtually every industry. in addition, applied provides engineering, design and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber and fluid power shop services. applied also offers maintenance training and inventory management solutions that provide added value to its customers. the applied network encompasses more than 560 operating facilities and nine distribution centers. to learn more, visit www.applied.com.