In its upcoming report, Applied Industrial Technologies (AIT) is predicted by Wall Street analysts to post quarterly earnings of $2.24 per share, reflecting a decline of 6.3% compared to the same period last year. Revenues are forecasted to be $1.09 billion, representing a year-over-year decrease of 0.9%.

The consensus EPS estimate for the quarter has been revised 1.3% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

With that in mind, let's delve into the average projections of some Applied Industrial Technologies metrics that are commonly tracked and projected by analysts on Wall Street.

According to the collective judgment of analysts, 'Net Sales- Engineered Solutions' should come in at $344.66 million. The estimate suggests a change of -1.2% year over year.

Analysts forecast 'Net Sales- Service Center Based Distribution' to reach $741.35 million. The estimate points to a change of -0.7% from the year-ago quarter.

It is projected by analysts that the 'Operating income- Engineered Solutions' will reach $49.62 million. Compared to the present estimate, the company reported $49.60 million in the same quarter last year.

The consensus among analysts is that 'Operating income- Service Center Based Distribution' will reach $96.81 million. Compared to the present estimate, the company reported $96.88 million in the same quarter last year.

View all Key Company Metrics for Applied Industrial Technologies here>>>

Over the past month, Applied Industrial Technologies shares have recorded returns of +6.1% versus the Zacks S&P 500 composite's +4.5% change. Based on its Zacks Rank #4 (Sell), AIT will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>