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Applied Industrial Reaffirms FY20 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the first quarter of fiscal 2020 on Wednesday, Applied Industrial Technologies Inc. (AIT) reaffirmed its adjusted earnings and net sales growth guidance for the full-year 2020.

For fiscal 2020, the company continues to project adjusted earnings in a range of $4.20 to $4.50 per share on a change in sales between down 2 percent and up 2 percent, including down 5 to 1 percent on an organic daily basis.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.33 per share on a sales decline of 0.3 percent to $3.46 billion for the year. Analysts' estimates typically exclude special items.

Further, the Company also announced that its Board of Directors declared a quarterly cash dividend of $0.31 per common share, payable on November 29, 2019, to shareholders of record on November 15, 2019.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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