Applied Industrial Technologies reported fiscal 2025 second quarter results, with net sales of $1.1 billion, a 0.4% decrease year-over-year. Despite this, the company's net income was $93.3 million, or $2.39 per share, and EBITDA increased by 3.3% to $135.1 million. Gross profit margin expanded by 114 basis points to 30.6%.
The company raised its fiscal 2025 EPS guidance to a range of $9.65 to $10.05, up from the prior $9.25 to $10.00. Total sales growth guidance was also increased to 1% to 3%, with organic daily sales projected to decline by 3% to 1%. EBITDA margins are now expected between 12.2% and 12.4%, incorporating the initial estimated contribution from the Hydradyne acquisition.
Applied Industrial Technologies' Board of Directors approved a 24% increase in the quarterly cash dividend, raising it to $0.46 per common share. This marks the 16th dividend increase since 2010, reflecting confidence in the company's financial position and future outlook. The dividend is payable on February 28, 2025, to shareholders of record on February 14, 2025.
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