The company reported a slight increase in sales to $1.1 billion, driven by acquisitions, offset by mixed demand trends.
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The report reveals advancements in sustainability reflecting the company’s commitment to its business values.
The distributor’s full-year total sales increased 1.5% year-over-year, while 4Q sales remained flat.
The distributor’s organic sales topped expectations and the company continues to grow its automation presence.
Organic sales narrowly dipped year-over-year as modest growth in Applied's Service Center segment offset a decline in Engineered Solutions.
Net sales for the first quarter of the company's fiscal year were $1.1 billion, an increase of 3.1% over the prior year.
The company again marks its centennial celebration by acquiring two providers of bearings, power transmission and industrial motion products.
The company reported that fiscal 4Q net sales were $1.2 Billion, up 9.1% YoY and up 8.6% on an organic basis.
The ceremony was part of the company’s 100-year anniversary, which is being celebrated throughout 2023.
The change includes a 0.7% increase from acquisitions, offset by a negative 0.3% impact from foreign currency translation.
AMS serves customers across medical, technology, machine building, life sciences, electronics, automotive and other industrial verticals.
Jon S. Ploetz will lead the company’s global legal affairs, governance and compliance activities, ESG efforts and corporate secretary duties
This new full-line catalog features more than 47,000 products specifically selected for Maintenance, Repair, Operations customers.
Applied Industrial Technologies continued its strong start to 2023 with an impressive fiscal second quarter.
For the month, MDM reported 22 mergers and acquisitions among industrial distributors, the lowest total since May.
Applied continued its investment in the automation industry with its fourth acquisition in that market since 2019.
In its fiscal 1Q 2023, Applied Industrial Technologies reported net sales of $1.1 billion and net income of $76.9 million.
A new report calculates that U.S.-based industrial distributors could stand to benefit considerably over the next decade from increased MRO demand driven by the domestication of manufacturing production and foreign investment.
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The Cleveland, Ohio-based company also says that full-year sales reached $3.8 billion, up 17.8% over last year.
Year-end reports of publicly traded distributors support Q4 Baird-MDM Quarterly Industrial Distribution Survey results. Public company commentary remains optimistic for strong year.
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