Applied Industrial Technologies Inc 10-Q for FY2026 Q3

Applied Industrial Technologies Inc (AIT)

10-Q 2026-04-28 For: 2026-03-31

Added on April 28, 2026

About this 10-Q

Applied Industrial Technologies Inc filed this 10-Q on April 28, 2026, covering the quarter ended March 31, 2026 (FY2026 Q3).

Headline figures

Quarter ended March 31, 2026, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $1.25B; up 7.3% from $1.17B a year earlier
Net income: $99.77M; unchanged from net income of $99.8M a year earlier
Diluted EPS: $2.65; up 3.1% from $2.57 a year earlier

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Ohio			34-0117420
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification Number)

One Applied Plaza	Cleveland	Ohio	44115
(Address of principal executive offices)			(Zip Code)


Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, without par value	AIT	New York Stock Exchange


Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging growth company	☐


	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2026		2025		2026		2025
Net sales	$	1,251,453	$	1,166,749	$	3,613,999	$	3,338,694
Cost of sales	870,649		811,459		2,518,432		2,330,272
Gross profit	380,804		355,290		1,095,567		1,008,422
Selling, distribution and administrative expense, including depreciation	242,879		225,888		705,403		644,978

Operating income	137,925		129,402		390,164		363,444
Interest expense (income), net	2,447		853		4,382		(710)
Other expense (income), net	350		1,267		(703)		(1,769)
Income before income taxes	135,128		127,282		386,485		365,923
Income tax expense	35,359		27,483		90,560		80,771
Net income	$	99,769	$	99,799	$	295,925	$	285,152
Net income per share - basic	$	2.68	$	2.60	$	7.89	$	7.43
Net income per share - diluted	$	2.65	$	2.57	$	7.79	$	7.33

Weighted average common shares outstanding for basic computation	37,223		38,322		37,527		38,383
Dilutive effect of potential common shares	461		525		475		537
Weighted average common shares outstanding for diluted computation	37,684		38,847		38,002		38,920


	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2026		2025		2026		2025
Net income per the condensed statements of consolidated income	$	99,769	$	99,799	$	295,925	$	285,152

Other comprehensive loss, before tax:
Foreign currency translation adjustments	(2,447)		1,814		2,139		(19,046)
Post-employment benefits:
Reclassification of net actuarial losses (gains) and prior service cost, net, into other income, net and included in net periodic pension costs	1		(6)		7		(19)

Unrealized gain (loss) on cash flow hedge	—		21		262		(950)
Reclassification of interest from cash flow hedge into interest income, net	(988)		(3,654)		(8,141)		(12,436)
Total other comprehensive loss, before tax	(3,434)		(1,825)		(5,733)		(32,451)
Income tax benefit related to items of other comprehensive loss	(243)		(897)		(1,897)		(3,255)
Other comprehensive loss, net of tax	(3,191)		(928)		(3,836)		(29,196)
Comprehensive income, net of tax	$	96,578	$	98,871	$	292,089	$	255,956


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


	March 31, 2026		June 30, 2025
ASSETS
Current assets
Cash and cash equivalents	$	171,576	$	388,417
Accounts receivable, net	792,849		769,699
Inventories	526,324		505,337
Other current assets	90,457		84,020
Total current assets	1,581,206		1,747,473
Property, less accumulated depreciation of $262,959 and $256,016, respectively	128,037		128,154
Operating lease assets, net	181,830		188,654
Identifiable intangibles, net	322,689		348,600
Goodwill	704,998		699,374
Other assets	69,951		63,289
TOTAL ASSETS	$	2,988,711	$	3,175,544

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable	$	303,057	$	280,124
Current portion of long-term debt	18,000		—
Compensation and related benefits	88,529		99,630
Other current liabilities	127,036		146,397
Total current liabilities	536,622		526,151
Long-term debt	347,300		572,300
Other liabilities	244,746		232,573
TOTAL LIABILITIES	1,128,668		1,331,024
Shareholders’ equity
Preferred stock—no par value; 2,500 shares authorized; none issued or outstanding	—		—
Common stock—no par value; 80,000 shares authorized; 54,213 shares issued	10,000		10,000
Additional paid-in capital	202,368		198,970
Retained earnings	2,707,720		2,447,931
Treasury shares—at cost (17,158 and 16,345 shares, respectively)	(964,523)		(720,695)
Accumulated other comprehensive loss	(95,522)		(91,686)
TOTAL SHAREHOLDERS’ EQUITY	1,860,043		1,844,520
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	2,988,711	$	3,175,544


For the Period Ended March 31, 2026	Shares of Common Stock Outstanding	Common Stock		Additional Paid-In Capital		Retained Earnings		Treasury Shares- at Cost		Accumulated Other Comprehensive Income (Loss)		Total Shareholders' Equity
Balance at June 30, 2025	37,868	$	10,000	$	198,970	$	2,447,931	$	(720,695)	$	(91,686)	$	1,844,520
Net income						100,807						100,807
Other comprehensive loss										(1,889)		(1,889)

Purchases of common stock for treasury	(204)							(53,566)				(53,566)
Treasury shares issued for:
Exercise of stock appreciation rights	15			(1,098)				(1,270)				(2,368)
Performance share awards	25			(1,942)				(2,905)				(4,847)
Restricted stock units	14			(1,013)				(1,132)				(2,145)
Compensation expense — stock appreciation rights				1,494								1,494
Other share-based compensation expense				1,831								1,831
Other				(1)		53		(134)				(82)
Balance at September 30, 2025	37,718	$	10,000	$	198,241	$	2,548,791	$	(779,702)	$	(93,575)	$	1,883,755
Net income						95,349						95,349
Other comprehensive income										1,244		1,244
Cash dividends — $0.46 per share						(17,306)						(17,306)
Purchases of common stock for treasury	(347)							(89,807)				(89,807)
Treasury shares issued for:
Exercise of stock appreciation rights	13			(897)				(764)				(1,661)

Restricted stock units	1			(19)				19				—
Compensation expense — stock appreciation rights				1,393								1,393
Other share-based compensation expense				1,449								1,449
Other	(1)			1		(7)		(2)				(8)
Balance at December 31, 2025	37,384	$	10,000	$	200,168	$	2,626,827	$	(870,256)	$	(92,331)	$	1,874,408
Net income						99,769						99,769
Other comprehensive loss										(3,191)		(3,191)
Cash dividends — $0.51 per share						(19,004)						(19,004)
Purchases of common stock for treasury	(346)							(93,864)				(93,864)
Treasury shares issued for:
Exercise of stock appreciation rights	13			(978)				(642)				(1,620)

Compensation expense — stock appreciation rights				1,287								1,287
Other share-based compensation expense				2,134								2,134
Other	4			(243)		128		239				124
Balance at March 31, 2026	37,055	$	10,000	$	202,368	$	2,707,720	$	(964,523)	$	(95,522)	$	1,860,043


For the Period Ended March 31, 2025	Shares of Common Stock Outstanding	Common Stock		Additional Paid-In Capital		Retained Earnings		Treasury Shares- at Cost		Accumulated Other Comprehensive Income (Loss)		Total Shareholders' Equity
Balance at June 30, 2024	38,409	$	10,000	$	193,778	$	2,121,838	$	(559,269)	$	(77,566)	$	1,688,781
Net income						92,063						92,063
Other comprehensive loss										(8,942)		(8,942)
Cash dividends — $0.37 per share						(9)						(9)
Purchases of common stock for treasury	(52)							(10,479)				(10,479)
Treasury shares issued for:
Exercise of stock appreciation rights	19			(1,106)				(1,339)				(2,445)
Performance share awards	34			(2,213)				(3,294)				(5,507)
Restricted stock units	37			(2,123)				(2,136)				(4,259)
Compensation expense — stock appreciation rights				1,326								1,326
Other share-based compensation expense				1,675								1,675
Other	(1)			(12)		(24)		(91)				(127)
Balance at September 30, 2024	38,446	$	10,000	$	191,325	$	2,213,868	$	(576,608)	$	(86,508)	$	1,752,077
Net income						93,290						93,290
Other comprehensive loss										(19,326)		(19,326)
Cash dividends — $0.37 per share						(14,253)						(14,253)
Purchases of common stock for treasury	(75)							(20,103)				(20,103)
Treasury shares issued for:
Exercise of stock appreciation rights	6			(321)				(402)				(723)


Compensation expense — stock appreciation rights				1,127								1,127
Other share-based compensation expense				1,426								1,426
Other						(3)						(3)
Balance at December 31, 2024	38,377	$	10,000	$	193,557	$	2,292,902	$	(597,113)	$	(105,834)	$	1,793,512
Net income						99,799						99,799
Other comprehensive loss										(928)		(928)
Cash dividends — $0.46 per share						(17,683)						(17,683)
Purchases of common stock for treasury	(205)							(49,765)				(49,765)
Treasury shares issued for:
Exercise of stock appreciation rights	8			(495)				(739)				(1,234)
Restricted stock units	3			(118)				57				(61)
Compensation expense — stock appreciation rights				1,117								1,117
Other share-based compensation expense				2,723								2,723
Other	5			(174)		(1)		176				1
Balance at March 31, 2025	38,188	$	10,000	$	196,610	$	2,375,017	$	(647,384)	$	(106,762)	$	1,827,481


	Three Months Ended March 31,
	2026						2025
	Service Center		Engineered Solutions		Total		Service Center		Engineered Solutions		Total
Geographic Areas:
United States	$	682,464	$	424,658	$	1,107,122	$	643,479	$	388,804	$	1,032,283
Canada	70,783		—		70,783		71,555		—		71,555
Other countries	51,690		21,858		73,548		46,568		16,343		62,911
Total	$	804,937	$	446,516	$	1,251,453	$	761,602	$	405,147	$	1,166,749


	Nine Months Ended March 31,
	2026						2025
	Service Center		Engineered Solutions		Total		Service Center		Engineered Solutions		Total
Geographic Areas:
United States	$	1,964,425	$	1,223,234	$	3,187,659	$	1,868,962	$	1,050,103	$	2,919,065
Canada	220,628		—		220,628		220,808		—		220,808
Other countries	149,681		56,031		205,712		145,398		53,423		198,821
Total	$	2,334,734	$	1,279,265	$	3,613,999	$	2,235,168	$	1,103,526	$	3,338,694


	March 31, 2026		June 30, 2025		$ Change		% Change
Contract assets	$	19,343	$	11,659	$	7,684	65.9	%
Contract liabilities	33,575		29,244		4,331		14.8	%


	Hydradyne Acquisition
Cash and cash equivalents	$	13,146
Accounts receivable	42,436
Inventories	44,085
Other current assets	996
Property, net	6,483
Operating lease assets	52,257
Identifiable intangible assets	126,050
Goodwill	68,217
Other assets	111
Total assets acquired	$	353,781
Accounts payable and accrued liabilities	15,771
Other current liabilities	4,546
Other liabilities	51,328
Net assets acquired	$	282,136


March 31, 2026	Amount		Accumulated Amortization		Net Book Value
Finite-Lived Identifiable Intangibles:
Customer relationships	$	509,690	$	251,973	$	257,717
Trade names	108,351		47,114		61,237
Other	6,652		2,917		3,735
Total Identifiable Intangibles	$	624,693	$	302,004	$	322,689


	Nine Months Ended
	March 31,
	2026		2025
Cash Flows from Operating Activities
Net Income	$	295,925	$	285,152
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property	19,472		18,433
Amortization of intangibles	30,213		25,385
Provision for losses on accounts receivable	1,095		2,652
Amortization of stock appreciation rights	4,174		3,570
Other share-based compensation expense	5,414		5,824
Changes in operating assets and liabilities, net of acquisitions	(55,310)		5,371
Other, net	18,103		(1,050)
Net Cash provided by Operating Activities	319,086		345,337
Cash Flows from Investing Activities
Net cash paid for acquisitions, net of cash acquired	(11,425)		(273,312)
Capital expenditures	(18,312)		(18,295)
Proceeds from property sales	986		1,022

Net Cash used in Investing Activities	(28,751)		(290,585)
Cash Flows from Financing Activities
Net payments under revolving credit facility	(207,000)		—

Long-term debt repayments	—		(25,106)
Interest rate swap settlement receipts	5,765		9,435
Payment of debt issuance costs	(1,611)		—
Purchases of treasury shares	(236,379)		(79,794)
Dividends paid	(53,727)		(46,159)
Acquisition holdback payments	(1,393)		(1,210)

Taxes paid for shares withheld	(12,812)		(14,332)
Net Cash used in Financing Activities	(507,157)		(157,166)
Effect of Exchange Rate Changes on Cash	(19)		(5,361)
Decrease in Cash and Cash Equivalents	(216,841)		(107,775)
Cash and Cash Equivalents at Beginning of Period	388,417		460,617
Cash and Cash Equivalents at End of Period	$	171,576	$	352,842


	Three Months Ended March 31,
	2026						2025
	Service Center		Engineered Solutions		Total		Service Center		Engineered Solutions		Total
General Industry	34.9	%	44.2	%	38.1	%	33.8	%	41.5	%	36.6	%
Industrial Machinery	8.6	%	26.5	%	15.0	%	8.7	%	24.3	%	14.1	%
Food	15.2	%	3.0	%	10.8	%	15.5	%	2.9	%	11.1	%
Metals	12.0	%	6.5	%	10.1	%	11.1	%	6.5	%	9.5	%
Forest Products	11.8	%	1.9	%	8.3	%	12.5	%	3.1	%	9.2	%
Chem/Petrochem	2.3	%	10.5	%	5.2	%	2.7	%	13.1	%	6.3	%
Cement & Aggregate	7.1	%	1.5	%	5.1	%	7.2	%	1.3	%	5.1	%
Transportation	3.4	%	4.5	%	3.8	%	3.5	%	5.4	%	4.2	%
Oil & Gas	4.7	%	1.4	%	3.6	%	5.0	%	1.9	%	3.9	%
Total	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%


	Nine Months Ended March 31,
	2026						2025
	Service Center		Engineered Solutions		Total		Service Center		Engineered Solutions		Total
General Industry	34.5	%	43.6	%	37.7	%	34.5	%	39.1	%	36.1	%
Industrial Machinery	8.2	%	25.2	%	14.2	%	8.3	%	23.4	%	13.2	%
Food	15.5	%	2.9	%	11.1	%	15.3	%	3.3	%	11.4	%
Metals	11.7	%	6.4	%	9.9	%	11.1	%	7.6	%	9.9	%
Forest Products	11.7	%	2.0	%	8.2	%	12.1	%	3.2	%	9.2	%
Chem/Petrochem	2.5	%	11.8	%	5.8	%	2.8	%	15.3	%	6.9	%
Cement & Aggregate	7.6	%	1.4	%	5.4	%	7.5	%	1.4	%	5.5	%
Transportation	3.5	%	4.9	%	4.0	%	3.6	%	4.8	%	4.0	%
Oil & Gas	4.8	%	1.8	%	3.7	%	4.8	%	1.9	%	3.8	%
Total	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%


	Three Months Ended March 31,
	2026						2025
	Service Center		Engineered Solutions		Total		Service Center		Engineered Solutions		Total
Power Transmission	36.7	%	9.1	%	26.8	%	36.7	%	9.3	%	27.2	%
General MRO & Other	21.8	%	25.7	%	23.3	%	22.6	%	24.0	%	23.1	%
Fluid Power	15.2	%	37.0	%	23.0	%	14.7	%	36.7	%	22.3	%
Bearings, Linear & Seals	26.3	%	1.2	%	17.3	%	26.0	%	0.3	%	17.1	%
Specialty Flow Control	—	%	27.0	%	9.6	%	—	%	29.7	%	10.3	%
Total	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%


	Acquisition Cost Allocation		Weighted-Average life
Customer relationships	$	4,307	20.0


	March 31, 2026		June 30, 2025
Revolving credit facility	$	177,000	$	384,000
Trade receivable securitization facility	188,300		188,300
Total debt	$	365,300	$	572,300


	Three Months Ended March 31, 2026
	Foreign currency translation adjustment		Post-employment benefits		Cash flow hedge		Total Accumulated other comprehensive loss
Balance at December 31, 2025	$	(92,642)	$	(435)	$	746	$	(92,331)
Other comprehensive loss	(2,446)		—		—		(2,446)
Amounts reclassified from accumulated other comprehensive income (loss)	—		1		(746)		(745)

Net current-period other comprehensive (loss) income	(2,446)		1		(746)		(3,191)
Balance at March 31, 2026	$	(95,088)	$	(434)	$	—	$	(95,522)


	Three Months Ended March 31, 2025
	Foreign currency translation adjustment		Post-employment benefits		Cash flow hedge		Total Accumulated other comprehensive loss
Balance at December 31, 2024	$	(116,461)	$	(399)	$	11,026	$	(105,834)
Other comprehensive income	1,818		—		16		1,834
Amounts reclassified from accumulated other comprehensive loss	—		(3)		(2,759)		(2,762)
Net current-period other comprehensive income (loss)	1,818		(3)		(2,743)		(928)
Balance at March 31, 2025	$	(114,643)	$	(402)	$	8,283	$	(106,762)


	Nine Months Ended March 31, 2026
	Foreign currency translation adjustment		Post-employment benefits		Cash flow hedge		Total Accumulated other comprehensive loss
Balance at June 30, 2025	$	(97,216)	$	(438)	$	5,968	$	(91,686)
Other comprehensive income	2,139		—		198		2,337
Amounts reclassified from accumulated other comprehensive (loss) income	(11)		4		(6,166)		(6,173)

Net current-period other comprehensive income (loss)	2,128		4		(5,968)		(3,836)
Balance at March 31, 2026	$	(95,088)	$	(434)	$	—	$	(95,522)


	Nine Months Ended March 31, 2025
	Foreign currency translation adjustment		Post-employment benefits		Cash flow hedge		Total Accumulated other comprehensive loss
Balance at June 30, 2024	$	(95,566)	$	(391)	$	18,391	$	(77,566)
Other comprehensive loss	(19,077)		—		(718)		(19,795)
Amounts reclassified from accumulated other comprehensive loss	—		(11)		(9,390)		(9,401)

Net current-period other comprehensive loss	(19,077)		(11)		(10,108)		(29,196)
Balance at March 31, 2025	$	(114,643)	$	(402)	$	8,283	$	(106,762)


	Index Reading
Month	MCU	PMI	MIP
March 2026	75.3	52.7	97.3
February 2026	75.5	52.4	97.4
January 2026	75.3	52.6	97.1
December 2025	74.9	47.9	96.5
June 2025	76.8	49.0	100.1


	Three Months Ended March 31,				Change in $'s Versus Prior Period - % Increase
	As a Percent of Net Sales
	2026		2025
Net sales	100.0	%	100.0	%	7.3	%
Gross profit	30.4	%	30.5	%	7.2	%
Selling, distribution & administrative expense	19.4	%	19.4	%	7.5	%
Operating income	11.0	%	11.1	%	6.6	%
Net income	8.0	%	8.6	%	—	%


Sales by Reportable Segment	Three Months Ended March 31,				Sales (Decrease) Increase		Amount of change due to
	Three Months Ended March 31,								Foreign Currency		Organic Change
	2026		2025				Acquisitions		Foreign Currency		Organic Change
Service Center	$	804.9	$	761.6	$	43.3	$	1.8	$	9.5	$	32.0
Engineered Solutions	446.5		405.1		41.4		3.7		—		37.7
Total	$	1,251.4	$	1,166.7	$	84.7	$	5.5	$	9.5	$	69.7


	Three Months Ended March 31,				Sales Increase (Decrease)		Amount of change due to
	Three Months Ended March 31,								Foreign Currency		Organic Change
Sales by Geographic Area	2026		2025				Acquisitions		Foreign Currency		Organic Change
United States	$	1,107.1	$	1,032.3	$	74.9	$	5.5	$	—	$	69.4
Canada	70.8		71.5		(0.7)		—		3.4		(4.1)
Other countries	73.5		62.9		10.6		—		6.1		4.5
Total	$	1,251.4	$	1,166.7	$	84.8	$	5.5	$	9.5	$	69.8


	Three Months Ended March 31,				SD&A Increase		Amount of change due to
	Three Months Ended March 31,								Foreign Currency		Organic Change
	2026		2025				Acquisitions		Foreign Currency		Organic Change
SD&A	$	242.9	$	225.9	$	17.0	$	1.7	$	1.9	$	13.4


	Nine Months Ended March 31,				Change in $'s Versus Prior Period - % Increase
	As a Percent of Net Sales
	2026		2025
Net sales	100.0	%	100.0	%	8.2	%
Gross profit	30.3	%	30.2	%	8.6	%
Selling, distribution & administrative expense	19.5	%	19.3	%	9.4	%
Operating income	10.8	%	10.9	%	7.4	%
Net income	8.2	%	8.5	%	3.8	%


	Nine Months Ended March 31,
Net Cash Provided by (Used in):	2026		2025
Operating Activities	$	319,086	$	345,337
Investing Activities	(28,751)		(290,585)
Financing Activities	(507,157)		(157,166)
Exchange Rate Effect	(19)		(5,361)
Decrease in Cash and Cash Equivalents	$	(216,841)	$	(107,775)


							March 31,			June 30,
							2026			2025
Accounts receivable, gross							$	807,186		$	786,161
Allowance for doubtful accounts							14,337			16,462
Accounts receivable, net							$	792,849		$	769,699
Allowance for doubtful accounts, % of gross receivables							1.8		%	2.1		%

	Three Months Ended March 31,						Nine Months Ended March 31,
	2026			2025			2026			2025
Provision for (recovery of) losses on accounts receivable	$	1,335		$	(954)		$	1,095		$	2,652
Provision as a % of net sales	0.11		%	(0.08)		%	0.03		%	0.08		%


Period	(a) Total Number of Shares	(b) Average Price Paid per Share ($)	(c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	(d) Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs (1)
January 1, 2026 to January 31, 2026	118,611	$270.33	118,611	630,753
February 1, 2026 to February 28, 2026	60,000	$273.65	60,000	570,753
March 1, 2026 to March 31, 2026	167,868	$265.07	167,868	402,885
Total	346,479	$268.36	346,479	402,885


Exhibit No.						Description
3.1						Amended and Restated Articles of Incorporation of Applied Industrial Technologies, Inc., as amended on October 25, 2005 (filed as Exhibit 3(a) to Applied ’s Form 10-Q for the quarter ended December 31, 2005, SEC File No. 1-2299, and incorporated here by reference).

3.2						Code of Regulations of Applied Industrial Technologies, Inc., as amended on October 19, 1999 (filed as Exhibit 3(b) to Applied ’s Form 10-Q for the quarter ended September 30, 1999, SEC File No. 1-2299, and incorporated here by reference).

4.1						Certificate of Merger of Bearings, Inc. (Ohio) (now named Applied Industrial Technologies , Inc.) and Bearings, Inc. (Delaware) filed with the Ohio Secretary of State on October 18, 1988, including an Agreement and Plan of Reorganization dated September 6, 1988 (filed as Exhibit 4(a) to Applied ’s Registration Statement on Form S-4 filed May 23, 1997, Registration No. 333-27801, and incorporated here by reference).

4.2						Receivables Financing Agreement dated as of August 31, 2018 among AIT Receivables LLC, as borrower, PNC Bank, National Association, as administrative agent, Applied Industrial Technologies, Inc., as initial servicer, PNC Capital Markets LLC, as structuring agent and the additional persons from time to time party thereto, as lenders (filed as Exhibit 10.1 to Applied 's Form 8-K filed September 6, 2018, SEC File No. 1-2299, and incorporated here by reference).

4.3						Purchase and Sale Agreement dated as of August 31, 2018 among various entities listed on Schedule I thereto (including Applied Industrial Technologies, Inc.), as originators, Applied Industrial Technologies, Inc., as servicer, and AIT Receivables LLC, as buyer (filed as Exhibit 10.2 to Applied's Form 8-K filed September 6, 2018, SEC File No. 1-2299, and incorporated here by reference).

4.4						Amendment No. 1 to Receivables Financing Agreement and Reaffirmation of Performance Guaranty dated as of March 26, 2021 among AIT Receivables LLC, as borrower, PNC Bank, National Association, as administrative agent, Applied Industrial Technologies, Inc., as initial servicer, PNC Capital Markets LLC, as structuring agent and the additional persons from time to time party thereto, as lenders (filed as Exhibit 10.2 to Applied's Form 8-K filed March 29, 2021, SEC File No. 1-2299, and incorporated here by reference).

4.5						Amendment No. 1 to Purchase and Sale Agreement dated as of November 19, 2018 among Applied Industrial Technologies, Inc. and various of its affiliates, as originators, Applied Industrial Technologies, Inc., as servicer, and AIT Receivables LLC, as buyer, (filed as Exhibit 4.10 to Applied's Form 10-Q for the quarter ended March 31, 2021, SEC File No. 1-2299, and incorporated here by reference).

4.6						Amendment No. 2 to Receivables Financing Agreement and Reaffirmation of Performance Guaranty, dated as of May 12, 2023, by and among AIT Receivables, LLC, Applied Industrial Technologies, Inc., PNC Bank, National Association, Regions Bank, and PNC Capital Markets LLC (filed as Exhibit 4.10 to Applied’s Form 10-K for the fiscal year ended June 30, 2023, SEC File No. 1-2299, and incorporated here by reference).

4.7						Amendment No. 2 to Purchase and Sale Agreement dated as of March 26, 2021 among various entities listed on Schedule 1 thereto (including Applied Industrial Technologies, Inc.), as originators, Applied Industrial Technologies, Inc., as servicer, and AIT Receivables LLC, as buyer (filed as Exhibit 10.2 to Applied's Form 8-K filed March 29, 2021, SEC File No. 1-2299, and incorporated here by reference).

4.8						Amendment No. 3 to Receivables Financing Agreement and Reaffirmation of Performance Guaranty dated as of August 4, 2023 among AIT Receivables LLC, as borrower, PNC Bank, National Association, as administrative agent, Applied Industrial Technologies, Inc., as initial servicer, PNC Capital Markets LLC, as structuring agent, and the additional persons from time to time party thereto, as lenders (filed as Exhibit 10.1 to Applied’s Form 8-K filed August 9, 2023, SEC File No. 1-2299, and incorporated here by reference).

4.9						Amendment No. 3 to Purchase and Sale Agreement dated as of August 4, 2023 among various entities listed on Schedule I thereto (including Applied Industrial Technologies, Inc.), as originators, Applied Industrial Technologies, Inc., as servicer, and AIT Receivables LLC, as buyer (filed as Exhibit 10.2 to Applied’s Form 8-K filed August 9, 2023, SEC File No. 1-2299, and incorporated here by reference).

4.10						Amendment No. 4 to Receivables Financing Agreement and Reaffirmation of Performance Guaranty dated as of July 10, 2025 among AIT Receivables LLC, as Borrower, PNC Bank, National Association, as administrative agent, Applied Industrial Technologies, Inc., as initial servicer, PNC Capital Markets LLC, as structuring agent, and the additional person from time to time party thereto, as lenders (filed as Exhibit 10.1 to Applied’s Form 8-K filed July 11, 2025, SEC File No. 1-2299, and incorporated here by reference).

4.11						Amendment No. 4 to Purchase and Sale Agreement dated as of July 10, 2025 among various entities listed on Schedule I thereto (including Applied Industrial Technologies, Inc.), as originators, Applied Industrial Technologies, Inc., as servicer, and AIT Receivables LLC, as buyer (filed as Exhibit 10.2 to Applied’s Form 8-K filed July 11, 2025, SEC File No. 1-2299, and incorporated here by reference).


4.12						Credit Agreement dated as of October 24, 2025, among Applied Industrial Technologies, Inc., Key Bank National Association as Agent, and various financial institutions (filed as Exhibit 10.1 to Applied ’s Form 8-K filed October 24, 2025, SEC File No. 1-2299, and incorporated here by reference).

10.1						Restricted Stock Award Terms and Conditions (Directors)

31						Rule 13a-14(a)/15d-14(a) certifications

32						Section 1350 certifications

101						The following financial information from Applied Industrial Technologies Inc.'s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 formatted in Inline XBRL (Extensible Business Reporting Language) includes: (i) the Condensed Statements of Consolidated Income, (ii) the Condensed Statements of Consolidated Comprehensive Income, (iii) the Condensed Consolidated Balance Sheets, (iv) the Condensed Statements of Consolidated Cash Flows, (v) the Condensed Statements of Shareholders' Equity, and (vi) the Notes to Condensed Consolidated Financial Statements.

104						Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)


		APPLIED INDUSTRIAL TECHNOLOGIES, INC.
		(Company)

Date:	April 28, 2026	By: /s/ Neil A. Schrimsher
		Neil A. Schrimsher
		President & Chief Executive Officer


Date:	April 28, 2026	By: /s/ David K. Wells
		David K. Wells
		Vice President-Chief Financial Officer & Treasurer


Date: April 28, 2026			By: /s/ Neil A. Schrimsher
			Neil A. Schrimsher
			President & Chief Executive Officer



/s/ Neil A. Schrimsher						/s/ David K. Wells
Neil A. Schrimsher						David K. Wells
President & Chief Executive Officer						Vice President-Chief Financial Officer & Treasurer


Date: April 28, 2026