Applied Industrial (AIT) Q4 Earnings Beat, Revenues Rise Y/Y

Applied Industrial Technologies (AIT) reported fourth-quarter fiscal 2024 (ended Jun 30, 2024) earnings of $2.64 per share, which surpassed the Zacks Consensus Estimate of$2.52. The bottom line jumped 12.3% year over year.Net revenues of $1.16 billion lagged the consensus estimate of$1.19 billion. However, the top line inched up 0.2% year over year. Acquisitions boosted the top line by 1.5% while foreign-currency translation had a negative impact of 0.1%. Organic sales decreased 2% year over year. Selling ...