07:11 AM EDT, 10/24/2024 (MT Newswires) -- Applied Industrial Technologies ( AIT ) reported fiscal Q1 net income Thursday of $2.36 per diluted share, down from $2.39 a year earlier.

Analysts surveyed by Capital IQ expected $2.25.

Net sales for the quarter ended Sept. 30 were $1.098 billion, up from $1.095 billion a year earlier.

Analysts polled by Capital IQ expected $1.08 billion.

The company said it now expects fiscal 2025 earnings of $9.25 to $10.00 per share, compared with its prior guidance of $9.20 to $9.95. Analysts polled by Capital IQ expect $9.66.

Applied Industrial ( AIT ) said it continues to expect sales to range from a decline of 2.5% to a growth of 2.5%.

Shares of the company were up 3.7% in recent Thursday premarket activity.

Price: 232.01, Change: +8.19, Percent Change: +3.66