Recent Updates — AIT
Applied Industrial Technologies reported fiscal 2027 first-quarter net income of $110.4 million, or $2.97 per share, up 12.7% year over year. Net sales reached $1.3 billion, a 7.6% increase driven by a 14.1% surge in the Engineered Solutions segment and a 3.5% rise in Service Centers. The company raised its full-year EPS guidance to $11.70-$12.20 from $11.65-$12.15, while maintaining sales growth and EBITDA margin targets. Additionally, the board declared a quarterly cash dividend of $0.51 per share payable on November 30, 2026, and appointed Joe A. Raver as independent chairman following Peter C. Wallace's retirement. Applied Industrial Technologies is a leading value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies.
The Board of Directors appointed Ms. Pamela J. Tomczik as a director effective August 11, 2026. This amendment reports her subsequent appointment to the Audit Committee and Corporate Governance & Sustainability Committee on October 20, 2026. Applied Industrial Technologies operates in the industrial distribution sector.
On August 11, 2026, Applied Industrial Technologies elected Pamela J. Tomczik to its Board of Directors for a term expiring in October 2026. Ms. Tomczik currently serves as Senior Vice President, Treasurer and Business Development at Target Corporation and previously held leadership roles at Thomson Reuters, Travelers, and Andersen Corporation. Concurrently, Peter C. Wallace submitted his retirement notice from the Board, effective at the annual shareholder meeting on October 20, 2026, in accordance with the company's age-based retirement policy. The new director will receive standard non-employee compensation and has signed an indemnification agreement. Applied Industrial Technologies operates in the industrial distribution sector, providing mechanical power transmission products and services.
Applied Industrial Technologies reported fiscal 2026 fourth-quarter net sales of $1.4 billion, up 10.4% year-over-year, and net income of $118.6 million, or $3.17 per diluted share, up 13.2%. Full-year net sales reached $5.0 billion, an 8.8% increase, with full-year net income of $414.5 million, or $10.95 per diluted share. The company issued fiscal 2027 guidance projecting total sales growth of 4.0% to 6.5% and earnings per share between $11.65 and $12.15. Additionally, management raised intermediate financial targets to achieve $7 billion in sales and 14% EBITDA margins over the next five years. Applied Industrial Technologies operates as a value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies.
Mary Dean Hall resigned from the Corporate Governance & Sustainability Committee of the Board of Directors, effective at the next annual meeting of shareholders. Applied Industrial Technologies is a distributor of industrial products and services.