Applied Industrial Technologies Inc 10-Q for FY2026 Q2

Applied Industrial Technologies Inc (AIT)

10-Q 2026-01-27 For: 2025-12-31

Added on April 10, 2026

About this 10-Q

Applied Industrial Technologies Inc filed this 10-Q on January 27, 2026, covering the quarter ended December 31, 2025 (FY2026 Q2).

Headline figures

Quarter ended December 31, 2025, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $1.16B; up 8.4% from $1.07B a year earlier
Net income: $95.35M; up 2.2% from net income of $93.29M a year earlier
Diluted EPS: $2.51; up 5.0% from $2.39 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				Six Months Ended
	December 31,				December 31,
	2025		2024		2025		2024
Net sales	$	1,163,023	$	1,073,001	$	2,362,546	$	2,171,945
Cost of sales	809,689		744,951		1,647,783		1,518,813
Gross profit	353,334		328,050		714,763		653,132
Selling, distribution and administrative expense, including depreciation	230,125		207,180		462,524		419,090

Operating income	123,209		120,870		252,239		234,042
Interest expense (income), net	942		(936)		1,935		(1,563)
Other income, net	(505)		(755)		(1,053)		(3,036)
Income before income taxes	122,772		122,561		251,357		238,641
Income tax expense	27,423		29,271		55,201		53,288
Net income	$	95,349	$	93,290	$	196,156	$	185,353
Net income per share - basic	$	2.54	$	2.43	$	5.21	$	4.83
Net income per share - diluted	$	2.51	$	2.39	$	5.14	$	4.76

Weighted average common shares outstanding for basic computation	37,595		38,427		37,676		38,413
Dilutive effect of potential common shares	460		536		485		543
Weighted average common shares outstanding for diluted computation	38,055		38,963		38,161		38,956


	Three Months Ended				Six Months Ended
	December 31,				December 31,
	2025		2024		2025		2024
Net income per the condensed statements of consolidated income	$	95,349	$	93,290	$	196,156	$	185,353

Other comprehensive income (loss), before tax:
Foreign currency translation adjustments	3,777		(18,594)		4,586		(20,860)
Post-employment benefits:
Reclassification of net actuarial gains and prior service cost, net, into other income, net and included in net periodic pension costs	2		(8)		6		(13)

Unrealized gain (loss) on cash flow hedge	74		3,188		262		(971)
Reclassification of interest from cash flow hedge into interest expense (income), net	(3,419)		(4,091)		(7,153)		(8,782)
Total other comprehensive income (loss), before tax	434		(19,505)		(2,299)		(30,626)
Income tax benefit related to items of other comprehensive loss	(810)		(179)		(1,654)		(2,358)
Other comprehensive income (loss), net of tax	1,244		(19,326)		(645)		(28,268)
Comprehensive income, net of tax	$	96,593	$	73,964	$	195,511	$	157,085


☒			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


	December 31, 2025		June 30, 2025
ASSETS
Current assets
Cash and cash equivalents	$	405,986	$	388,417
Accounts receivable, net	706,902		769,699
Inventories	529,003		505,337
Other current assets	106,568		84,020
Total current assets	1,748,459		1,747,473
Property, less accumulated depreciation of $265,192 and $256,016	129,531		128,154
Operating lease assets, net	181,831		188,654
Identifiable intangibles, net	328,787		348,600
Goodwill	701,422		699,374
Other assets	69,292		63,289
TOTAL ASSETS	$	3,159,322	$	3,175,544

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable	$	258,235	$	280,124

Compensation and related benefits	84,396		99,630
Other current liabilities	132,851		146,397
Total current liabilities	475,482		526,151
Long-term debt	572,300		572,300
Other liabilities	237,132		232,573
TOTAL LIABILITIES	1,284,914		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	200,168		198,970
Retained earnings	2,626,827		2,447,931
Treasury shares—at cost (16,829 and 16,345 shares, respectively)	(870,256)		(720,695)
Accumulated other comprehensive loss	(92,331)		(91,686)
TOTAL SHAREHOLDERS’ EQUITY	1,874,408		1,844,520
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	3,159,322	$	3,175,544


For the Period Ended December 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, 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


For the Period Ended December 31, 2024	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


	Three Months Ended December 31,
	2025						2024
	Service Center		Engineered Solutions		Total		Service Center		Engineered Solutions		Total
Geographic Areas:
United States	$	625,157	$	398,893	$	1,024,050	$	599,801	$	329,748	$	929,549
Canada	74,528		—		74,528		77,777		—		77,777
Other countries	47,638		16,807		64,445		46,249		19,426		65,675
Total	$	747,323	$	415,700	$	1,163,023	$	723,827	$	349,174	$	1,073,001


	Six Months Ended December 31,
	2025						2024
	Service Center		Engineered Solutions		Total		Service Center		Engineered Solutions		Total
Geographic Areas:
United States	$	1,281,961	$	798,576	$	2,080,537	$	1,225,483	$	661,299	$	1,886,782
Canada	149,845		—		149,845		149,253		—		149,253
Other countries	97,991		34,173		132,164		98,830		37,080		135,910
Total	$	1,529,797	$	832,749	$	2,362,546	$	1,473,566	$	698,379	$	2,171,945


	December 31, 2025		June 30, 2025		$ Change		% Change
Contract assets	$	15,074	$	11,659	$	3,415	29.3	%
Contract liabilities	35,297		29,244		6,053		20.7	%


	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


December 31, 2025	Amount		Accumulated Amortization		Net Book Value
Finite-Lived Identifiable Intangibles:
Customer relationships	$	511,352	$	249,594	$	261,758
Trade names	108,353		45,274		63,079
Other	6,902		2,952		3,950
Total Identifiable Intangibles	$	626,607	$	297,820	$	328,787


	Six Months Ended
	December 31,
	2025		2024
Cash Flows from Operating Activities
Net income	$	196,156	$	185,353
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property	13,076		11,850
Amortization of intangibles	20,329		15,167
(Recovery of) provision for losses on accounts receivable	(240)		3,605
Amortization of stock appreciation rights	2,887		2,453
Other share-based compensation expense	3,280		3,101
Changes in operating assets and liabilities, net of acquisitions	(26,230)		1,451
Other, net	9,718		(96)
Net Cash provided by Operating Activities	218,976		222,884
Cash Flows from Investing Activities
Net cash paid for acquisitions, net of cash acquired	(2,425)		(273,142)
Capital expenditures	(13,578)		(10,746)
Proceeds from property sales	642		922

Net Cash used in Investing Activities	(15,361)		(282,966)
Cash Flows from Financing Activities


Long-term debt repayments	—		(25,106)
Interest rate swap settlement receipts	5,083		6,797
Payment of debt issuance costs	(1,611)		—
Purchases of treasury shares	(143,401)		(30,084)
Dividends paid	(34,723)		(28,469)
Acquisition holdback payments	(1,210)		(1,210)
Exercise of stock appreciation rights and options	(1)		—
Taxes paid for shares withheld	(11,191)		(13,037)
Net Cash used in Financing Activities	(187,054)		(91,109)
Effect of Exchange Rate Changes on Cash	1,008		(5,985)
Increase (Decrease) in Cash and Cash Equivalents	17,569		(157,176)
Cash and Cash Equivalents at Beginning of Period	388,417		460,617
Cash and Cash Equivalents at End of Period	$	405,986	$	303,441


	Three Months Ended December 31,
	2025						2024
	Service Center		Engineered Solutions		Total		Service Center		Engineered Solutions		Total
General Industry	34.6	%	44.7	%	38.1	%	34.6	%	36.6	%	35.4	%
Industrial Machinery	7.9	%	24.7	%	13.9	%	8.0	%	23.0	%	12.8	%
Food	15.5	%	3.1	%	11.1	%	15.2	%	3.9	%	11.5	%
Metals	11.7	%	5.6	%	9.5	%	10.9	%	8.3	%	10.0	%
Forest Products	11.3	%	2.1	%	8.0	%	12.0	%	3.5	%	9.2	%
Chem/Petrochem	2.5	%	11.8	%	5.9	%	2.9	%	17.0	%	7.5	%
Cement & Aggregate	8.2	%	1.4	%	5.8	%	7.9	%	1.6	%	5.9	%
Transportation	3.5	%	4.9	%	4.0	%	3.5	%	4.1	%	3.7	%
Oil & Gas	4.8	%	1.7	%	3.7	%	5.0	%	2.0	%	4.0	%
Total	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%


	Six Months Ended December 31,
	2025						2024
	Service Center		Engineered Solutions		Total		Service Center		Engineered Solutions		Total
General Industry	34.4	%	43.3	%	37.5	%	34.8	%	37.8	%	35.8	%
Industrial Machinery	7.9	%	25.1	%	14.0	%	8.0	%	22.8	%	12.7	%
Food	15.7	%	3.0	%	11.2	%	15.3	%	3.5	%	11.5	%
Metals	11.6	%	6.4	%	9.8	%	11.1	%	8.2	%	10.2	%
Forest Products	11.6	%	2.1	%	8.2	%	11.9	%	3.4	%	9.2	%
Chem/Petrochem	2.6	%	11.6	%	5.8	%	2.9	%	16.6	%	7.2	%
Cement & Aggregate	7.9	%	1.3	%	5.6	%	7.6	%	1.4	%	5.7	%
Transportation	3.5	%	5.2	%	4.1	%	3.7	%	4.4	%	3.9	%
Oil & Gas	4.8	%	2.0	%	3.8	%	4.7	%	1.9	%	3.8	%
Total	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%


	Three Months Ended December 31,
	2025						2024
	Service Center		Engineered Solutions		Total		Service Center		Engineered Solutions		Total
Power Transmission	38.1	%	8.5	%	27.5	%	38.0	%	10.6	%	29.2	%
General MRO & Other	22.6	%	25.9	%	23.8	%	22.6	%	21.5	%	22.1	%
Fluid Power	14.4	%	35.3	%	21.8	%	14.2	%	32.0	%	20.0	%
Bearings, Linear & Seals	24.9	%	1.5	%	16.6	%	25.2	%	0.4	%	17.2	%
Specialty Flow Control	—	%	28.8	%	10.3	%	—	%	35.5	%	11.5	%
Total	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%


	Acquisition Cost Allocation		Weighted-Average life
Customer relationships	$	515	20.0


	December 31, 2025		June 30, 2025
Revolving credit facility	$	384,000	$	384,000
Trade receivable securitization facility	188,300		188,300
Total debt	$	572,300	$	572,300


	Three Months Ended December 31, 2025
	Foreign currency translation adjustment		Post-employment benefits		Cash flow hedge		Total Accumulated other comprehensive loss
Balance at September 30, 2025	$	(96,418)	$	(437)	$	3,280	$	(93,575)
Other comprehensive income	3,776		—		56		3,832
Amounts reclassified from accumulated other comprehensive income (loss)	—		2		(2,590)		(2,588)

Net current-period other comprehensive income (loss)	3,776		2		(2,534)		1,244
Balance at December 31, 2025	$	(92,642)	$	(435)	$	746	$	(92,331)


	Three Months Ended December 31, 2024
	Foreign currency translation adjustment		Post-employment benefits		Cash flow hedge		Total Accumulated other comprehensive loss
Balance at September 30, 2024	$	(97,822)	$	(394)	$	11,708	$	(86,508)
Other comprehensive (loss) income	(18,639)		—		2,407		(16,232)
Amounts reclassified from accumulated other comprehensive loss	—		(5)		(3,089)		(3,094)
Net current-period other comprehensive loss	(18,639)		(5)		(682)		(19,326)
Balance at December 31, 2024	$	(116,461)	$	(399)	$	11,026	$	(105,834)


	Six Months Ended December 31, 2025
	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	4,585		—		198		4,783
Amounts reclassified from accumulated other comprehensive (loss) income	(11)		3		(5,420)		(5,428)

Net current-period other comprehensive income (loss)	4,574		3		(5,222)		(645)
Balance at December 31, 2025	$	(92,642)	$	(435)	$	746	$	(92,331)


	Six Months Ended December 31, 2024
	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	(20,895)		—		(734)		(21,629)
Amounts reclassified from accumulated other comprehensive loss	—		(8)		(6,631)		(6,639)

Net current-period other comprehensive loss	(20,895)		(8)		(7,365)		(28,268)
Balance at December 31, 2024	$	(116,461)	$	(399)	$	11,026	$	(105,834)


	Index Reading
Month	MCU	PMI	IP
December 2025	75.6	47.9	97.4
November 2025	75.6	48.2	97.2
October 2025	75.4	48.7	96.9
September 2025	75.9	49.1	97.5
June 2025	76.8	49.0	100.1


	Three Months Ended December 31,				Change in $'s Versus Prior Period - % Increase
	As a Percent of Net Sales
	2025		2024
Net sales	100.0	%	100.0	%	8.4	%
Gross profit	30.4	%	30.6	%	7.7	%
Selling, distribution & administrative expense	19.8	%	19.3	%	11.1	%
Operating income	10.6	%	11.3	%	1.9	%
Net income	8.2	%	8.7	%	2.2	%


Sales by Reportable Segment	Three Months Ended December 31,				Sales (Decrease) Increase		Amount of change due to
	Three Months Ended December 31,								Foreign Currency		Organic Change
	2025		2024				Acquisitions		Foreign Currency		Organic Change
Service Center	$	747.3	$	723.8	$	23.5	$	—	$	2.2	$	21.3
Engineered Solutions	415.7		349.2		66.5		64.9		—		1.6
Total	$	1,163.0	$	1,073.0	$	90.0	$	64.9	$	2.2	$	22.9


	Three Months Ended December 31,				Sales Increase (Decrease)		Amount of change due to
	Three Months Ended December 31,								Foreign Currency		Organic Change
Sales by Geographic Area	2025		2024				Acquisitions		Foreign Currency		Organic Change
United States	$	1,024.1	$	929.5	$	94.6	$	64.9	$	—	$	29.7
Canada	74.5		77.8		(3.3)		—		0.2		(3.5)
Other countries	64.4		65.7		(1.3)		—		2.0		(3.3)
Total	$	1,163.0	$	1,073.0	$	90.0	$	64.9	$	2.2	$	22.9


	Three Months Ended December 31,				SD&A Increase		Amount of change due to
	Three Months Ended December 31,								Foreign Currency		Organic Change
	2025		2024				Acquisitions		Foreign Currency		Organic Change
SD&A	$	230.1	$	207.2	$	22.9	$	19.7	$	0.4	$	2.8


	Six Months Ended December 31,				Change in $'s Versus Prior Period - % Increase
	As a Percent of Net Sales
	2025		2024
Net sales	100.0	%	100.0	%	8.8	%
Gross profit	30.3	%	30.1	%	9.4	%
Selling, distribution & administrative expense	19.6	%	19.3	%	10.4	%
Operating income	10.7	%	10.8	%	7.8	%
Net income	8.3	%	8.5	%	5.8	%


	Six Months Ended December 31,
Net Cash Provided by (Used in):	2025		2024
Operating Activities	$	218,976	$	222,884
Investing Activities	(15,361)		(282,966)
Financing Activities	(187,054)		(91,109)
Exchange Rate Effect	1,008		(5,985)
(Decrease) Increase in Cash and Cash Equivalents	$	17,569	$	(157,176)


							December 31,			June 30,
							2025			2025
Accounts receivable, gross							$	721,480		$	786,161
Allowance for doubtful accounts							14,578			16,462
Accounts receivable, net							$	706,902		$	769,699
Allowance for doubtful accounts, % of gross receivables							2.0		%	2.1		%

	Three Months Ended December 31,						Six Months Ended December 31,
	2025			2024			2025			2024
Provision for (recovery of) losses on accounts receivable	$	1,431		$	2,549		$	(240)		$	3,605
Provision as a % of net sales	0.12		%	0.24		%	(0.01)		%	0.17		%


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)
October 1, 2025 to October 31, 2025	9,000	$258.00	9,000	1,086,864
November 1, 2025 to November 30, 2025	171,000	$252.86	171,000	915,864
December 1, 2025 to December 31, 2025	166,500	$260.67	166,500	749,364
Total	346,500	$256.74	346,500	749,364


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 the Company’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 the Company’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 the Company’s Registration Statement on Form S-4 filed May 23, 1997, Registration No. 333-27801, and incorporated here by reference).

4.2						Amended and Restated Note Purchase and Private Shelf Agreement dated as of October 30, 2019, between Applied Industrial Technologies, Inc.and PGIM, Inc. (formerly known as Prudential Investment Management, Inc.), and certain of its affiliates (filed as Exhibit 10.1 to the Company's Form 8-K filed November 5, 2019, SEC File No. 1-2299, and incorporated here by reference).

4.3						Amendment No. 1 to Amended and Restated Note Purchase and Private Shelf Agreement dated as of March 26, 2021 between Applied Industrial Technologies, Inc. and PGIM, Inc. (formerly known as Prudential Investment Management, Inc.), and certain of its affiliates, (filed as Exhibit 4.3 to the Company’s Form 10-Q for the quarter ended March 31, 2021, SEC File No. 1-2299, and incorporated here by reference).

4.4						Amendment No. 2 to Amended and Restated Note Purchase and Private Shelf Agreement, dated as of December 9, 2021, between Applied and PGIM, Inc., (filed as Exhibit 10.2 to the Company's Form 8-K filed December 14, 2021, SEC File No. 1-2299, and incorporated here by reference).

4.5						Amendment No. 3 to Amended and Restated Note Purchase and Private Shelf Agreement, dated as of October 28, 2022, between Applied and PGIM, Inc. (filed as Exhibit 10.1 to the Company's Form 8-K filed November 1, 2022, SEC File No. 1-2299, as incorporated here by reference).

4.6						Credit Agreement dated as of December 9, 2021, among Applied Industrial Technologies, Inc., KeyBank National Association as Agent, and various financial institutions, (filed as Exhibit 10.1 to the Company's Form 8-K filed December 14, 2021, SEC File No. 1-2299, and incorporated here by reference).

4.7						First Amendment Agreement, dated as of May 12, 2023, among Applied Industrial Technologies, Inc., KeyBank National Association as Agent, and the Lenders set forth therein (filed as Exhibit 4.7 to Applied’s Form 10-K for the fiscal year ended June 30, 2023, SEC File No. 1-2299, and incorporated here by reference).

4.8						Guaranty of Payment Joinder, dated as of January 16, 2025, among Applied Bearing Distributors, LLC, Cangro Industries, LLC, Itech Automation Solutions, LLC, KeyBank National Association as Agent, and various financial institutions (filed as Exhibit 4.8 to Applied's Form 10-Q for the quarter ended March 31, 2025, SEC File No. 1-2299, and incor porated here by reference).

4.9						Guaranty of Payment Joinder, dated as of March 14, 2025, among Stanley M. Proctor Company, LLC, KeyBank National Association as Agent, and various financial institutions (filed as Exhibit 4.9 to Applied's 1 0-Q for the quarter ended March 31, 2025, SEC File No. 1-299, and incorpora ted here by reference).

4.10						Guaranty of Payment Joinder, dated as of March 14, 2025, among Hydradyne, LLC., KeyBank National Association as Agent, and various financial institutions (f iled as E xhibit 4.10 to Applied's Form 10-Q for the quarter ended March 31, 2025, SEC File No. 1-2299, and incorporated here by reference).

4.11						Guaranty of Payment Joinder, dated as of June 19, 2025, among Iris Custom Solutions, LLC, KeyBank National Association as Agent, and various financial institution s (filed as E xhibit 4.11 to Applied's Form 1 0-K for the fiscal year ended Ju ne 30, 2025, SEC File No. 1-2299, and incorporated here by reference).

4.12						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 the Company's Form 8-K filed September 6, 2018, SEC File No. 1-2299, and incorporated here by reference).

4.13						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 the Company's Form 8-K filed March 29, 2021, SEC File No. 1-2299, and incorporated here by reference).


4.14						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).

4.15						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).

4.16						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).

4.17						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).

4.18						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).

4.19						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).

4.20						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).

4.21						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).

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

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 December 31, 2025 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:	January 27, 2026	By: /s/ Neil A. Schrimsher
		Neil A. Schrimsher
		President & Chief Executive Officer


Date:	January 27, 2026	By: /s/ David K. Wells
		David K. Wells
		Vice President-Chief Financial Officer & Treasurer


Date: January 27, 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: January 27, 2026