The Ohio-based distributor reported fiscal 2022 second-quarter net sales of $876.9 million and a net income of $57 million.
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CEOs from leading distributors Grainger, Fastenal, Applied, MSC and Motion reveal secrets to their success during a challenging third quarter.
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In its fiscal first-quarter report, Applied Industrial Technologies reported more than $891 million in sales, a 19.2% increase over last year.
R.R.Floody adds a range of automation technologies and services to Applied Industrial Technologies’ portfolio.
The distributor’s earnings and revenue beat wasn’t surprising given a favorable comp, but a handful of tailwinds are keeping Applied’s optimism intact heading into the new fiscal year.
For the full year, Applied Industrial Technologies’ total 2021 fiscal sales were $3.24 billion, a decrease of 0.3% compared to last year.
After sales increase in the third quarter, Applied Industrial Technologies’ CEO is predicting an even better fourth quarter.
Like most companies, Applied continued to be impacted by the COVID-19 crisis and saw year-to-date sales fall 11.3% over the same period in 2019.
Applied’s addition of Massachusetts-based Gibson Engineering Company Inc. should boost distributor’s automation offering.
Applied Industrial Technologies hopes to grow revenue 40% to $4.5 billion in the coming years, and M&A will not surprisingly play a huge role in that ambitious pursuit. Here’s what company leaders said about their acquisition strategy moving forward.
Tough times continued for Applied Industrial Technologies in the company’s fiscal first quarter; the company’s sales dipped 12.7% and profit fell 10.3%.
Applied Industrial Technology's latest addition will help expand the company’s automation offering as well as its geographic reach in the Southeast U.S.
August has brought some more good news to the U.S. economy in general and distribution in general based on the latest round of data reports showing continued momentum, but the industry has plenty of work yet to complete.
Market conditions weren’t favorable for Applied Industrial Technologies Inc. in the fiscal fourth quarter, but the distributor navigated the COVID-plagued business landscape as well as possible thanks to cost-reduction measures it will extend into 2021.
Like most companies, Applied was impacted in the period by the COVID-19 crisis and saw fourth-quarter sales fall 17.9% over the same period in 2019.
The business will continue to operate under the Olympus Controls name.
