Applied Industrial Technologies has reported results for the first quarter of its 2026 fiscal year, highlighted by a 9.2% increase over the prior year.
Company leaders reported that the overall gain was attributed to organic sales increases (3%); increase in its service center segment (4.4%) and a boost from acquisitions (6.3%).
Net sales for Applied came in at $1.2 billion for the quarter, with earnings of $100.8 million. The company also said it would increase its fiscal 2026 EPS guidance "modestly" to reflect the strong performance of the quarter. Still, the company is maintaining its sales guidance of 4-7% for the year.
Company CEO Neil Schrimsher said Applied expects improvement in demand to remain "gradual and bifurcated as macro and trade policy uncertainty persists into the seasonally slower fall and winter months."
Schrimsher also added that, "combined with ongoing inflationary pressures and an evolving tariff backdrop, we believe a prudent approach to guidance remains warranted at this time."
Applied Industrial Technologies is ranked #8 on the 2025 ID Big 50 List.
