Updated Fiscal 2024 Guidance
For fiscal 2024, the Company now projects EPS of $9.55 to $9.70 on an adjusted basis (prior $9.35 to $9.70), sales growth of 1.5% to 2.5% (prior 1% to 3%) including 0.5% to 1.5% on an organic daily basis (prior 0% to 2%), and EBITDA margins of 12.0% to 12.1% (prior 12.1% to 12.3%). Updated adjusted EPS guidance excludes the $3.0 million tax benefit recorded in the fiscal 2024 second quarter related to a deferred tax valuation allowance adjustment. Guidance incorporates current economic uncertainty and assumptions of easing end-market demand near term, as well as ongoing inflationary headwinds. Guidance does not assume contribution from Kopar (pending the transaction close) or future acquisitions.
Applied Industrial Technologies Updates Fiscal 2024 Guidance, Now Expects Adj. EPS Of $9.55-$9.70 (Prior $9.35-$9.70) Vs. $9.66 Est, Sales Growth Of 1.5%-2.5% (Prior 1%-3%) Vs. $4.5B Est
Company Profile
Thu. 25 Apr 2024, 6:45am ET
Benzinga
Earnings, News, Guidance