Applied Industrial Q1 EPS $2.39 Beats $2.09 Estimate, Sales $1.09B Miss $1.10B Estimate
Portfolio Pulse from Benzinga Newsdesk
Applied Industrial (NYSE:AIT) reported Q1 earnings of $2.39 per share, beating the analyst consensus estimate of $2.09 by 14.35%. This is an 11.16% increase from the same period last year. However, the company's quarterly sales of $1.09 billion missed the analyst consensus estimate of $1.10 billion by 0.45%, though it's a 3.11% increase from last year.
October 26, 2023 | 10:34 am
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NEUTRAL IMPACT
Applied Industrial's Q1 earnings beat estimates, but sales missed the mark. This mixed result could lead to uncertain short-term price movements.
Applied Industrial's earnings beat estimates, which is generally positive for the stock price. However, the company's sales missed estimates, which could negatively impact the stock price. The mixed results make the short-term price impact uncertain.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100