(RTTNews) - Applied Industrial Technologies (AIT) adjusted fiscal 2026 EPS guidance to a range of $10.45 to $10.75, from prior guidance range of $10.10 to $10.85 following first half performance. Updated guidance now assumes sales growth of 5.5% to 7.0%, updated from prior range of up 4.0% to 7.0%, including up 2.5% to 4.0% on an organic basis revised from prior range of up 1.0% to 4.0%.
For the second quarter, the company's bottom line totaled $95.34 million, or $2.51 per share. This compares with $93.29 million, or $2.39 per share, last year. Sales rose 8.4% to $1.163 billion from $1.073 billion last year. Sales increased 2.2% on an organic basis.
Applied Industrial Technologies also announced the acquisition of Thompson Industrial Supply Inc. Based in Los Angeles, CA, Thompson is a provider of industrial bearings, power transmission, hydraulics, pneumatics, linear motion, and lightweight belting products and related service solutions.
The company also announced that its Board of Directors approved an 11% increase in the quarterly cash dividend to $0.51 per common share, payable on February 27, 2026, to shareholders of record on February 13, 2026.
In pre-market trading on NYSE, Applied Industrial shares are down 0.15 percent to $281.12.
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