Applied Industrial Technologies, Inc. reported financial results for its fiscal year 2027 first quarter ended September 30, 2026. The company recorded net sales of $1.3 billion, representing a 7.6% increase compared to the same period in the prior year. On an organic basis, sales increased by 7.1%, driven by a 14.1% rise in the Engineered Solutions segment and a 3.5% increase in the Service Center segment.
For the quarter, the company reported net income of $110.4 million, or $2.97 per share, which is an increase of 12.7% year over year. Operating income was $143.6 million, up 11.3%, while EBITDA reached $160.3 million, an increase of 9.6%.
Applied Industrial Technologies also updated its fiscal 2027 guidance. The company raised its earnings per share (EPS) guidance to a range of $11.70 to $12.20, a slight increase from the prior range of $11.65 to $12.15. This adjustment reflects a slightly lower diluted share count assumption following share repurchases in the first quarter. The company reiterated its guidance for sales growth of 4.0% to 6.5% and EBITDA margins of 12.5% to 12.8%.
In other corporate developments, the company announced that Peter C. Wallace retired as Chairman of the Board effective October 20, 2026. Joe A. Raver was selected to succeed him as the next independent Chairman. Additionally, the Board of Directors declared a quarterly cash dividend of $0.51 per common share, payable on November 30, 2026, to shareholders of record on November 13, 2026.
