Applied Industrial Technologies Q2 2023 Earnings Recap

Applied Industrial Technologies reported fiscal Q2 2023 results with organic sales growth of 21% and EPS growth of 41%, driven by strong demand across industrial segments and operational improvements. The company achieved record EBITDA margins of 11.8% and announced the acquisition of Automation, Inc. to expand its automation platform. Management raised fiscal 2023 guidance and outlined intermediate objectives of $5B in sales and 12% EBITDA margins.