Applied Industrial Technologies Inc (NYSE:AIT) reported better-than-expected earnings for the fourth quarter on Thursday.
The company posted quarterly earnings of $3.17 per share which beat the analyst consensus estimate of $2.91 per share. The company reported quarterly sales of $1.400 billion which beat the analyst consensus estimate of $1.293 billion.
Applied Industrial said it sees FY2027 GAAP EPS of $11.65-$12.15, versus market estimates of $11.77. The company sees sales of $5.166 billion-$5.290 billion, versus expectations of $5.187 billion.
Neil A. Schrimsher, Applied’s President & Chief Executive Officer, said, “We had a strong finish to fiscal 2026 with fourth quarter sales, EBITDA, and EPS achieving record quarterly levels and exceeding our expectations. Organic sales growth of 10% was the strongest in more than three years with trends strengthening across both segments. The growth momentum building across the business reflects our differentiated technical position and ongoing sales initiatives, which are intensifying within an increasingly favorable end-market backdrop.”
Applied Industrial shares fell 0.2% to $357.00 in pre-market trading.
These analysts made changes to their price targets on Applied Industrial following earnings announcement.
- Mizuho analyst Brett Linzey maintained the stock with an Outperform rating and raised the price target from $355 to $400.
- Baird analyst David Manthey maintained the stock with an Outperform rating and raised the price target from $317 to $400.
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