Applied Industrial Technologies (AIT) reported fourth quarter non-GAAP adjusted net income of $31.1 million, or $0.80 per share. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.68, for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter decreased 17.9% to $725.1 million from $882.7 million in the prior year. Sales decreased 18.4% on an organic basis. Analysts expected revenue of $739.39 million for the quarter. The company projects first quarter sales to decline 17% to 18% year-over-year on anorganic basis.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.