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CLEVELAND (AP) — CLEVELAND (AP) — Applied Industrial Technologies Inc. (AIT) on Thursday reported fiscal third-quarter earnings of $99.8 million.
On a per-share basis, the Cleveland-based company said it had profit of $2.57.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.40 per share.
The industrial products company posted revenue of $1.17 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $1.16 billion.
Applied Industrial Technologies expects full-year earnings to be $9.85 to $10 per share.
Applied Industrial Technologies shares have increased nearly 2% since the beginning of the year. The stock has increased 33% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AIT at https://www.zacks.com/ap/AIT