APPLIED INDUSTRIAL TECHNOLOGIES Reports Fourth Quarter FY2023 Earnings Results
August 27, 2023
🌥️Earnings Overview
On August 10 2023, APPLIED INDUSTRIAL TECHNOLOGIES ($NYSE:AIT) announced their earnings results for the fourth quarter of FY2023, ending June 30 2023. The company experienced a 9.1% revenue increase from the same quarter of the prior fiscal year, totaling USD 1158.1 million, while net income soared 16.6% to USD 92.2 million.
Price History
The company’s impressive results are being credited to its ability to remain agile and adjust quickly to changes in the market. The company has been able to maintain a strong balance sheet and capitalize on growth opportunities in the industry, which have resulted in increased revenues and profits for the company. The company’s impressive fourth quarter FY2023 earnings report is reflective of their sound financial performance and ability to stay ahead of market trends.
They have also seen an increase in their customer base due to their continued focus on providing innovative and high-quality products and services. APPLIED INDUSTRIAL TECHNOLOGIES is confident that their strong financial performance and innovative products and services will continue to drive their long-term success in the industry. They are confident that their impressive fourth quarter FY2023 earnings report will provide further evidence of their ability to remain profitable and remain competitive in the market. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for AIT. More…
| Total Revenues | Net Income | Net Margin |
| 4.41k | 346.74 | 7.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for AIT. More…
| Operations | Investing | Financing |
| 343.97 | -60.83 | -126.89 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for AIT. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.74k | 1.28k | 37.73 |
Key Ratios Snapshot
Some of the financial key ratios for AIT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.8% | 29.0% | 10.8% |
| FCF Margin | ROE | ROA |
| 7.2% | 20.9% | 10.8% |
Analysis
GoodWhale has conducted an in-depth analysis of APPLIED INDUSTRIAL TECHNOLOGIES’s wellbeing. Our Star Chart shows that the company is strong in asset, dividend, growth and profitability. Especially worth noting, its health score is an impressive 10/10, meaning that the company is financially sound and has the capacity to sustain future operations even during a crisis. We have also classified APPLIED INDUSTRIAL TECHNOLOGIES as a ‘gorilla’, a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. This makes it an attractive investment opportunity for those looking for reliable returns and long-term appreciation. Given its strong financials and competitive advantage, we believe that investors who are looking for a safe and rewarding share to add to their portfolio may be interested in APPLIED INDUSTRIAL TECHNOLOGIES. More…
Peers
Applied Industrial Technologies Inc is in competition with Wajax Corp, Ohashi Technica Inc, and TAT Technologies Ltd. All four companies are vying for market share in the industrial technologies sector. Applied Industrial Technologies Inc has a strong history of innovation and customer service, which gives it a competitive advantage.
– Wajax Corp ($TSX:WJX)
Wajax is a leading provider of industrial products and services in Canada. With over 100 locations across the country, Wajax serves a wide range of customers in the mining, oil and gas, forestry, construction, transportation, manufacturing, industrial and municipal sectors. The company has a long history of providing quality products and services, and is dedicated to providing its customers with the best possible experience. Wajax has a market cap of 378.35M as of 2022, and a Return on Equity of 15.27%.
– Ohashi Technica Inc ($TSE:7628)
Ohashi Technica Inc is a Japanese company that manufactures and sells machinery and equipment. It has a market capitalization of 18.92 billion as of 2022 and a return on equity of 4.44%. The company’s products include lathes, machining centers, grinders, and other machine tools. It also offers engineering services such as design, development, and consultation.
– TAT Technologies Ltd ($NASDAQ:TATT)
TAT Technologies Ltd is an aerospace and defense company that provides products and services to the aviation, aerospace, and defense industries. The company has a market cap of $56.27 million and a return on equity of -3.57%. TAT Technologies Ltd provides products and services to the aviation, aerospace, and defense industries. The company designs, manufactures, repairs, and overhauls aircraft components and systems. It also provides engineering, technical, and aftermarket services.
Summary
Investors of Applied Industrial Technologies (AIT) have been pleased with the company’s financial results for the fourth quarter of FY2023, ending on June 30, 2023. Total revenue for the quarter was USD 1158.1 million, a 9.1% increase from the same period in the previous year, and net income increased 16.6% to USD 92.2 million year over year, leading to a positive reaction from the stock market. Investors should continue to watch AIT’s performance as they look for an opportunity to capitalize on the company’s success.
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