Benzinga | Jan 27, 2022 07:14AM EST

Applied Industrial: Q2 Earnings Insights



Applied Industrial (NYSE:AIT) reported its Q2 earnings results on Thursday, January 27, 2022 at 06:30 AM.

Here's what investors need to know about the announcement.

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Earnings

Applied Industrial beat estimated earnings by 43.52%, reporting an EPS of $1.55 versus an estimate of $1.08, which surprised analysts.

Revenue was up $125.61 million from the same period last year.

Past Earnings Performance

Last quarter the company beat on EPS by $0.17, which was followed by a 2.32% increase in the share price the next day.

Here's a look at Applied Industrial's past performance:



Quarter Q1 2022 Q4 2021 Q3 2021 Q2 2021EPS Estimate 1.26 1.15 1.03 0.74EPS Actual 1.43 1.44 1.37 0.98Revenue Estimate 877.00M 841.55M 814.90M 732.92MRevenue Actual 891.68M 895.89M 840.94M 751.29M

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Guidance

Applied Industrial management provided guidance for their next quarter, expecting earnings between $5.7 and $5.9 per share for the next quarter.

This represents a 274.19% in quarter-over-quarter growth for Applied Industrial, a bullish signal to many investors.

To track all upcoming earnings announcements, click to use Benzinga Earnings Calendar.

This article was generated by Benzinga's automated content engine and reviewed by an editor.