Applied Industrial Technologies GAAP EPS of $1.46 beats by $0.38, revenue of $876.9M beats by $26.03M

• Applied Industrial Technologies press release (NYSE:AIT): Q2 GAAP EPS of $1.46 beats by $0.38.
• Revenue of $876.9M (+16.7% Y/Y) beats by $26.03M.
• Fiscal 2022 GuidanceThe Company is raising guidance for fiscal 2022 and now projects EPS of $5.70 to $5.90 (prior $5.00 to $5.40) vs. $5.39 consensus, sales growth of 11.5% to 12.5% including 10.5% to 11.5% on an organic basis (prior 8% to 10% including 7% to 9% organic), and EBITDA margins of 10.1% to 10.3% (prior 9.7% to 9.9%).