Applied Industrial Reaffirms FY20 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the first quarter of fiscal 2020 on Wednesday, Applied Industrial Technologies Inc. (AIT) reaffirmed its adjusted earnings and net sales growth guidance for the full-year 2020.

For fiscal 2020, the company continues to project adjusted earnings in a range of $4.20 to $4.50 per share on a change in sales between down 2 percent and up 2 percent, including down 5 to 1 percent on an organic daily basis.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.33 per share on a sales decline of 0.3 percent to $3.46 billion for the year. Analysts' estimates typically exclude special items.

Further, the Company also announced that its Board of Directors declared a quarterly cash dividend of $0.31 per common share, payable on November 29, 2019, to shareholders of record on November 15, 2019.