10:05 AM EDT, 04/25/2024 (MT Newswires) -- Applied Industrial Technologies ( AIT ) reported fiscal Q3 earnings Thursday of $2.48 per diluted share, compared with $2.47 a year earlier.

Four analysts surveyed by Capital IQ expected $2.40.

Revenue for the quarter ended March 31 was $1.15 billion, compared with $1.13 billion a year earlier. Analysts expected $1.13 billion.

The company narrowed its 2024 guidance and now expects EPS to be in a range of $9.55 to $9.70 from previous guidance of $9.35 to $9.70, and now forecasts sales growth of 1.5% to 2.5% from 1% to 3%.

Applied Industrial Technologies ( AIT ) also declared its quarterly cash dividend of $0.37 per share, payable May 31 to shareholders of record on May 15.

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