Applied Industrial Technologies Inc 10-Q for FY2026 Q1

Applied Industrial Technologies Inc (AIT)

10-Q 2025-10-28 For: 2025-09-30

Added on April 10, 2026

About this 10-Q

Applied Industrial Technologies Inc filed this 10-Q on October 28, 2025, covering the quarter ended September 30, 2025 (FY2026 Q1).

Headline figures

Quarter ended September 30, 2025, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $1.2B; up 9.2% from $1.1B a year earlier
Net income: $100.81M; up 9.5% from net income of $92.06M a year earlier
Diluted EPS: $2.63; up 11.4% from $2.36 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
	September 30,
	2025		2024
Net sales	$	1,199,523	$	1,098,944
Cost of sales	838,094		773,862
Gross profit	361,429		325,082
Selling, distribution and administrative expense, including depreciation	232,399		211,910

Operating income	129,030		113,172
Interest expense (income), net	993		(627)
Other income, net	(548)		(2,281)
Income before income taxes	128,585		116,080
Income tax expense	27,778		24,017
Net income	$	100,807	$	92,063
Net income per share - basic	$	2.67	$	2.40
Net income per share - diluted	$	2.63	$	2.36

Weighted average common shares outstanding for basic computation	37,757		38,398
Dilutive effect of potential common shares	514		546
Weighted average common shares outstanding for diluted computation	38,271		38,944


	Three Months Ended
	September 30,
	2025		2024
Net income per the condensed statements of consolidated income	$	100,807	$	92,063

Other comprehensive loss, before tax:
Foreign currency translation adjustments	809		(2,266)
Post-employment benefits:
Reclassification of net actuarial losses (gains) and prior service cost into other income, net and included in net periodic pension costs	4		(5)


Unrealized gain (loss) on cash flow hedge	188		(4,159)
Reclassification of interest from cash flow hedge into interest income, net	(3,734)		(4,691)
Total other comprehensive loss, before tax	(2,733)		(11,121)
Income tax benefit related to items of other comprehensive loss	(844)		(2,179)
Other comprehensive loss, net of tax	(1,889)		(8,942)
Comprehensive income, net of tax	$	98,918	$	83,121


☒			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


	September 30, 2025		June 30, 2025
ASSETS
Current assets
Cash and cash equivalents	$	418,716	$	388,417
Accounts receivable, net	753,443		769,699
Inventories	521,675		505,337
Other current assets	71,457		84,020
Total current assets	1,765,291		1,747,473
Property, less accumulated depreciation of $260,805 and $256,016	129,532		128,154
Operating lease assets, net	185,730		188,654
Identifiable intangibles, net	338,895		348,600
Goodwill	699,862		699,374
Other assets	66,164		63,289
TOTAL ASSETS	$	3,185,474	$	3,175,544

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable	$	276,855	$	280,124
Compensation and related benefits	73,284		99,630
Other current liabilities	147,616		146,397
Total current liabilities	497,755		526,151
Long-term debt	572,300		572,300
Other liabilities	231,664		232,573
TOTAL LIABILITIES	1,301,719		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	198,241		198,970
Retained earnings	2,548,791		2,447,931
Treasury shares—at cost (16,496 and 16,345 shares, respectively)	(779,702)		(720,695)
Accumulated other comprehensive loss	(93,575)		(91,686)
TOTAL SHAREHOLDERS’ EQUITY	1,883,755		1,844,520
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	3,185,474	$	3,175,544


For the Period Ended September 30, 2025	Shares of Common Stock Outstanding	Common Stock		Additional Paid-In Capital		Retained Earnings		Treasury Shares- at Cost		Accumulated Other Comprehensive 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


For the Period Ended September 30, 2024	Shares of Common Stock Outstanding	Common Stock		Additional Paid-In Capital		Retained Earnings		Treasury Shares- at Cost		Accumulated Other Comprehensive 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


	Three Months Ended September 30,
	2025						2024
	Service Center		Engineered Solutions		Total		Service Center		Engineered Solutions		Total
Geographic Areas:
United States	$	656,804	$	399,683	$	1,056,487	$	625,682	$	331,551	$	957,233
Canada	75,317		—		75,317		71,476		—		71,476
Other countries	50,353		17,366		67,719		52,581		17,654		70,235
Total	$	782,474	$	417,049	$	1,199,523	$	749,739	$	349,205	$	1,098,944


	September 30, 2025		June 30, 2025		$ Change		% Change
Contract assets	$	12,283	$	11,659	$	624	5.4	%
Contract liabilities	28,748		29,244		(496)		(1.7)	%


	Hydradyne Acquisition
Cash and cash equivalents	$	13,332
Accounts receivable	42,852
Inventories	44,085
Other current assets	1,001
Property, net	6,483
Operating lease assets	52,257
Identifiable intangible assets	126,050
Goodwill	67,345
Other assets	111
Total assets acquired	$	353,516
Accounts payable and accrued liabilities	15,506
Other current liabilities	4,546
Other liabilities	51,328
Net assets acquired	$	282,136


	Three Months Ended
	September 30,
Pro forma	2024
Sales	$	1,167,505
Net income	94,086
Diluted net income per share	$	2.42


September 30, 2025	Amount		Accumulated Amortization		Net Book Value
Finite-Lived Identifiable Intangibles:
Customer relationships	$	511,125	$	241,320	$	269,805
Trade names	108,349		43,430		64,919

Other	6,902		2,731		4,171
Total Identifiable Intangibles	$	626,376	$	287,481	$	338,895


	Three Months Ended
	September 30,
	2025		2024
Cash Flows from Operating Activities
Net income	$	100,807	$	92,063
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property	6,486		5,924
Amortization of intangibles	10,203		7,600
(Recovery of) provision for losses on accounts receivable	(1,671)		1,056
Amortization of stock appreciation rights	1,494		1,326

Other share-based compensation expense	1,831		1,675
Changes in operating assets and liabilities, net of acquisitions	(584)		16,587
Other, net	751		1,516
Net Cash provided by Operating Activities	119,317		127,747
Cash Flows from Investing Activities
Net cash paid for acquisitions, net of cash acquired	(2,280)		(10,498)

Capital expenditures	(7,301)		(5,549)
Proceeds from property sales	35		831

Net Cash used in Investing Activities	(9,546)		(15,216)
Cash Flows from Financing Activities


Long-term debt repayments	—		(63)

Purchases of treasury shares	(53,175)		(9,980)
Interest rate swap settlement receipts	2,698		3,738
Dividends paid	(17,383)		(14,218)
Acquisition holdback payments	(1,210)		(1,210)

Taxes paid for shares withheld	(9,495)		(12,314)
Net Cash used in Financing Activities	(78,565)		(34,047)
Effect of Exchange Rate Changes on Cash	(907)		(581)
Increase in Cash and Cash Equivalents	30,299		77,903
Cash and Cash Equivalents at Beginning of Period	388,417		460,617
Cash and Cash Equivalents at End of Period	$	418,716	$	538,520


	Three Months Ended September 30,
	2025						2024
	Service Center		Engineered Solutions		Total		Service Center		Engineered Solutions		Total
General Industry	34.4	%	42.5	%	37.1	%	35.2	%	39.0	%	36.4	%
Industrial Machinery	7.9	%	24.0	%	13.5	%	8.1	%	22.6	%	12.5	%
Food	15.9	%	2.6	%	11.3	%	15.3	%	3.1	%	11.5	%
Metals	11.5	%	7.1	%	10.0	%	11.2	%	8.2	%	10.3	%
Forest Products	11.8	%	2.1	%	8.4	%	11.8	%	3.2	%	9.2	%
Chem/Petrochem	2.7	%	13.0	%	6.3	%	2.9	%	16.2	%	6.9	%
Cement & Aggregate	7.6	%	1.2	%	5.4	%	7.3	%	1.3	%	5.5	%
Transportation	3.5	%	5.2	%	4.1	%	3.8	%	4.7	%	4.1	%
Oil & Gas	4.7	%	2.3	%	3.9	%	4.4	%	1.7	%	3.6	%
Total	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%


	Three Months Ended September 30,
	2025						2024
	Service Center		Engineered Solutions		Total		Service Center		Engineered Solutions		Total
Power Transmission	37.5	%	8.6	%	27.5	%	37.9	%	11.0	%	29.7	%
General MRO & Other	22.3	%	25.0	%	23.2	%	22.2	%	18.1	%	20.8	%
Fluid Power	14.3	%	37.7	%	22.4	%	13.9	%	33.8	%	20.0	%
Bearings, Linear & Seals	25.9	%	0.3	%	17.0	%	26.0	%	0.5	%	18.2	%
Specialty Flow Control	—	%	28.4	%	9.9	%	—	%	36.6	%	11.3	%
Total	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%


	Acquisition Cost Allocation		Weighted-Average life
Customer relationships	$	507	20.0


	September 30, 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 September 30, 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	809		—		142		951
Amounts reclassified from accumulated other comprehensive (loss) income	(11)		1		(2,830)		(2,840)

Net current-period other comprehensive income (loss)	798		1		(2,688)		(1,889)
Balance at September 30, 2025	$	(96,418)	$	(437)	$	3,280	$	(93,575)


	Three Months Ended September 30, 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	(2,256)		—		(3,141)		(5,397)
Amounts reclassified from accumulated other comprehensive loss	—		(3)		(3,542)		(3,545)
Net current-period other comprehensive loss	(2,256)		(3)		(6,683)		(8,942)
Balance at September 30, 2024	$	(97,822)	$	(394)	$	11,708	$	(86,508)


	Index Reading
Month	MCU	PMI	IP
September 2025¹	—	49.1	—
August 2025	76.8	48.7	100.3
July 2025	76.7	48.0	100.0
June 2025	76.8	49.0	100.1
¹Due to the U.S. government shutdown, the September MCU and IP indices were not available.


	Three Months Ended September 30,				Change in $'s Versus Prior Period - % Increase
	As a Percent of Net Sales
	2025		2024
Net sales	100.0	%	100.0	%	9.2	%
Gross profit	30.1	%	29.6	%	11.2	%
Selling, distribution & administrative expense	19.4	%	19.3	%	9.7	%
Operating income	10.8	%	10.3	%	14.0	%
Net income	8.4	%	8.4	%	9.5	%


Sales by Reportable Segment	Three Months Ended September 30,				Sales Increase		Amount of change due to
	Three Months Ended September 30,								Foreign Currency		Organic Change
	2025		2024				Acquisitions		Foreign Currency		Organic Change
Service Center	$	782.4	$	749.7	$	32.7	$	0.5	$	(0.9)	$	33.1
Engineered Solutions	417.1		349.2		67.9		69.2		—		(1.3)
Total	$	1,199.5	$	1,098.9	$	100.6	$	69.7	$	(0.9)	$	31.8


	Three Months Ended September 30,				Sales Increase (Decrease)		Amount of change due to
	Three Months Ended September 30,								Foreign Currency		Organic Change
Sales by Geographic Area	2025		2024				Acquisitions		Foreign Currency		Organic Change
United States	$	1,056.5	$	957.2	$	99.3	$	69.7	$	—	$	29.6
Canada	75.3		71.5		3.8		—		(0.7)		4.5
Other countries	67.7		70.2		(2.5)		—		(0.2)		(2.3)
Total	$	1,199.5	$	1,098.9	$	100.6	$	69.7	$	(0.9)	$	31.8


	Three Months Ended September 30,				SD&A Increase		Amount of change due to
	Three Months Ended September 30,								Foreign Currency		Organic Change
	2025		2024				Acquisitions		Foreign Currency		Organic Change
SD&A	$	232.4	$	211.9	$	20.5	$	19.3	$	(0.2)	$	1.4


	Three Months Ended September 30,
Net Cash Provided by (Used in):	2025		2024
Operating Activities	$	119,317	$	127,747
Investing Activities	(9,546)		(15,216)
Financing Activities	(78,565)		(34,047)
Exchange Rate Effect	(907)		(581)
Increase in Cash and Cash Equivalents	$	30,299	$	77,903


	September 30,			June 30,
	2025			2025
Accounts receivable, gross	$	767,243		$	786,161
Less: allowance for doubtful accounts	13,800			16,462
Accounts receivable, net	$	753,443		$	769,699
Allowance for doubtful accounts, % of gross receivables	1.8		%	2.1		%

	Three Months Ended September 30,
	2025			2024
(Recovery of) provision for losses on accounts receivable	$	(1,671)		$	1,056
Provision as a % of net sales	(0.14)		%	0.10		%


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) (2)
July 1, 2025 to July 31, 2025	110,000	$256.78	110,000	1,190,000
August 1, 2025 to August 31, 2025	90,401	$264.86	90,401	1,099,599
September 1, 2025 to September 30, 2025	3,735	$263.87	3,735	1,095,864
Total	204,136	$260.49	204,136	1,095,864


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 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 Applied'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 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, and 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 incorporated 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 Form 10-Q for the quarter ended March 31, 2025, SEC File No. 1-2299, and incorporated 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 (filed as Exhibit 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 institutions.

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 Applied'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).

*10.1						Restricted Stock Units Terms and Conditions (August 2024 revision) (filed as Exhibit 10.18 to Applied's Form 10-K filed August 16, 2024, SEC File No. 1-2299, and incorporated here by reference).

*10.2						Performance Shares Terms and Conditions (August 2024 revision) (filed as Exhibit 10.19 to Applied's Form 10-K filed August 16, 2024, SEC File No. 1-2299, and incorporated here by reference).

*10.3						Stock Appreciation Rights Award Terms and Conditions (August 2024 revision) (filed as Exhibit 10.20 to Applied's Form 10-K filed August 16, 2024, 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 September 30, 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:	October 28, 2025	By: /s/ Neil A. Schrimsher
		Neil A. Schrimsher
		President & Chief Executive Officer


Date:	October 28, 2025	By: /s/ David K. Wells
		David K. Wells
		Vice President-Chief Financial Officer & Treasurer


Date: October 28, 2025			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: October 28, 2025