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In addition, we continue to see stronger order and sales momentum across heavy industries including industrial machinery, metals and mining, providing incremental support to our sales growth in the early fiscal 2022.įorward demand indicators also remain largely positive. This positive momentum has continued into our fiscal second quarter, with organic sales month-to-date in October up by mid-teens percent over the prior year.Īs it relates to customer end market, trends during the quarter were strongest across technology, chemicals, lumber and wood, pulp and paper, and aggregate verticals. Industrial supply chain constraints are having some impact on the timing of demand flowing through to sales, so solid execution and our favorable industry position steel drove and over 16% organic increase in sales versus prior year levels and stronger growth on a two year stacked basis relative to recent quarters.
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In terms of underlying demand, trends remain favorable across both our segments during the quarter. And third, we continue to benefit from efficiency gains and effective channel execution. Second our position, operational capabilities, and internal growth initiatives are supporting results. First, underlying demand remains positive. Nonetheless, we are in a strong position to handle these conditions, and believe the current backdrop is reinforcing our value proposition and long-term growth opportunity.Īs it relates to the quarter and our views going forward, I want to emphasize a few key points that continue to drive our performance. We reported record first quarter sales, EBITDA, and earnings per share, as well as another strong quarter of cash generation despite greater working capital investment year-to-date, as widely evident across the industrial sector, inflationary pressures, and supply chain constraints are presenting challenges as industrial production and broader economic activity continues to recover. In the early fiscal 2022, we are executing well and making progress on our strategic initiatives. And then I'll close with some final thoughts. Dave will follow with more specific detail on the quarter's performance and provide some additional color on our outlook and guidance. I'll start today with some perspective on our first quarter results, current industry conditions, and company-specific opportunities. We appreciate you joining us and hope you're doing well. Our speakers today include Neil Schrimsher, Applied’s President and Chief Executive Officer and Dave Wells, our Chief Financial Officer. In addition, the conference call will use non-GAAP financial measures, which are subject to the qualifications referenced in those documents.
#Alfa vision pre cash trans update
The company undertakes no obligation to update publicly or revise any forward-looking statement. All forward-looking statements are based on current expectations subject to certain risks, including the potential impact from the COVID-19 pandemic, as well as trends in sectors and geographies, the success of our business strategy and other risk factors.Īctual results may differ materially from those expressed in the forward-looking statements. Both of these documents are available in the Investor Relations section of .īefore we begin, just a reminder, we will discuss our business outlook and make forward-looking statements. This morning, we issued our earnings release and supplemental investor deck detailing our first quarter results. Thanks Shelby and good morning to everyone on the call. I will now turn the call over to Ryan Cieslak, Director of Investor Relations and Treasury. Please note that this conference is being recorded. Later, we will conduct a question-and-answer session. At this time, all participants are in a listen-only mode. My name is Shelby and I will be your operator for today’s call. Welcome to the Fiscal 2022 First Quarter Earnings Call for Applied Industrial Technologies. (NYSE: AIT) Q1 2022 Earnings Conference Call Octo10:00 AM ET