Wall Street analysts expect Applied Industrial Technologies (AIT) to post quarterly earnings of $2.40 per share in its upcoming report, which indicates a year-over-year decline of 3.2%. Revenues are expected to be $1.16 billion, up 1.3% from the year-ago quarter.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Applied Industrial Technologies metrics that are commonly monitored and projected by Wall Street analysts.
Analysts' assessment points toward 'Net Sales- Engineered Solutions' reaching $394.23 million. The estimate indicates a change of +10.4% from the prior-year quarter.
The combined assessment of analysts suggests that 'Net Sales- Service Center Based Distribution' will likely reach $766.60 million. The estimate indicates a change of -2.9% from the prior-year quarter.
The consensus among analysts is that 'Operating income- Engineered Solutions' will reach $55.08 million. Compared to the present estimate, the company reported $49.51 million in the same quarter last year.
The collective assessment of analysts points to an estimated 'Operating income- Service Center Based Distribution' of $99.49 million. Compared to the current estimate, the company reported $100.47 million in the same quarter of the previous year.
View all Key Company Metrics for Applied Industrial Technologies here>>>
Over the past month, Applied Industrial Technologies shares have recorded returns of +5.8% versus the Zacks S&P 500 composite's -0.8% change. Based on its Zacks Rank #3 (Hold), AIT will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Applied Industrial Technologies, Inc. (AIT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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