Update: Applied Industrial Technologies Q2 Earnings - Revenue Regains Some Momentum But EPS Still Down
Martin Vlcek • Wed, Aug. 13
- Revenue was up 2.2% Q/Q, showing strong momentum after flat sales. EPS was down 6.5% Y/Y for Q2 and down 4% for the full fiscal year.
- The long thesis worked out relatively well until today’s post-earnings 4% dip, which I see as a buying opportunity in the long run.
- I confirm my long thesis and see a target price of $51 within 12 months, providing a 10% upside plus the 2% dividend yield.