Applied Industrial Guides FY20 Outlook Below View - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter, Applied Industrial Technologies Inc. (AIT) on Wednesday initiated its earnings and net sales guidance for the full-year 2020, well below analysts' estimates.

For fiscal 2020, the company is forecasting earnings in a range of $4.20 to $4.50 per share on a change in sales between down 2 percent and up 2 percent, including down 5 to 1 percent on an organic daily basis.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.56 per share on sales growth of 14.3 percent to $3.51 billion for the year. Analysts' estimates typically exclude special items.