Applied Industrial Shares Rise

April 27, 2017

Shares of Applied Industrial Technologies surged to a new record high Thursday morning after the company reported fiscal Q3 results which were better-than-expected and raised its FY17 EPS guidance above views compiled by Capital IQ. For Q3 ended March 31, EPS was $0.75 per share compared to a loss of $1.14 per share a year earlier, and topped the $0.63 per share consensus.

Revenues rose 7.3% year-over-year to $679.3 million, beating forecasts for $637.3 million. Applied Industrial now expects FY17 EPS of $2.74 to $2.84 per share, up from a prior view for $2.50 to $2.60 per share, and higher than the $2.60 per share consensus. Q4 EPS is forecast at $0.68 to $0.78 per share, in line to above the $0.69 per share mean estimate, on revenue growth of 6% to 8% year-over-year.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with's FREE daily email newsletter.

By Caroline Williams

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with MarketBeat's FREE daily email newsletter: