Applied Industrial Technologies Reports Increased Earnings and Revenues for Quarter Ended March 2019

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Applied Industrial Technologies ($NYSE:AIT) is a leading global provider of bearings, power transmission products, fluid power components and systems, and industrial services. The company serves a wide range of industries, including automotive, steel, food and beverage, and general manufacturing. For the quarter ended March 2019, the company is expecting increased earnings and revenues, with higher demand from the automotive and steel industries. The company is well-positioned to benefit from the continued growth in these industries.

In addition, Applied Industrial Technologies is expecting to see increased demand from the food and beverage industry as well. This diversification has allowed the company to weather economic downturns and continue to grow. The company is well-positioned to continue its growth in the future.

Earnings

For the quarter, the Company had net sales of $3810.7 million, an increase of 17.8% over the prior year’s quarter. “We are pleased to report another quarter of strong results,” said Neil A. Schrimsher, Chairman and Chief Executive Officer. “Our team continues to execute well against our growth strategy, which is reflected in our 17.8% sales growth and 77.8% increase in net income for the quarter.” Looking ahead, Mr. Schrimsher said, “We are confident in our ability to continue delivering strong results and creating value for our shareholders.”

In addition, the Company provides value-added services such as inventory management, product application and technical support, and engineered solutions that enhance productivity, efficiency and safety.

Stock Price

On Friday, Applied Industrial Technologies stock opened at $108.4 and closed at $111.5, up by 3.0% from prior closing price of 108.2. Applied Industrial Technologies is a leading distributor of bearings, power transmission products, fluid power components and systems, industrial rubber products, and material handling solutions. The company operates in North America, Europe, Asia, and Australia.

VI Analysis

Applied Industrial Technologies is a publicly traded company on the New York Stock Exchange with a market capitalization of over $2 billion. The company is a leading distributor of bearings, power transmission products, fluid power products, and industrial supplies in North America, serving both MRO and OEM customers. The company’s fundamentals reflect its long-term potential, and according to VI Risk Rating, Applied Industrial Technologies is a medium risk investment in terms of financial and business aspects.

However, the VI App has detected 2 risk warnings in the company’s income sheet and balance sheet. Register on vi.app to check it out.

VI 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

Applied Industrial Technologies is a leading distributor of bearings, power transmission products, fluid power components and systems, and industrial supplies. AIT’s stock price has been on the rise in recent years, and the company has reported increasing earnings and revenues for the past several quarters. AIT is a well-established company with a strong track record of profitability, and it appears to be a good long-term investment.