Applied Industrial Technologies Reports Fiscal 2019 Fourth Quarter and Year-End Results
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Applied Industrial Technologies (AIT) Misses Q4 EPS by 14c, Revenues Miss; Offers FY20 EPS Guidance Below Consensus
August 14, 2019 6:33 AM EDTApplied Industrial Technologies (NYSE: AIT) reported Q4 EPS of $1.02, $0.14 worse than the analyst estimate of $1.16. Revenue for the quarter came in at $882.7 million versus the consensus estimate of $922.4 million.
Record Full-Year Sales of $3.5 Billion, Up 13.0% YoYFull-Year EPS of $3.68; Non-GAAP Adjusted EPS of $4.41, Up 18.0% YoYFourth Quarter Sales of $882.7 Million; EPS of $1.02Fourth Quarter Results Include: $3.4 Million Non-cash LIFO Charge ($0.07 Per Share or 40 Bps); $0.18 Per Share of Discrete Tax ExpenseFourth Quarter Cash from Operations of $103 Million; Free Cash of $96 MillionCommenting on the results, Applieds President & Chief Executive Officer... More
