Parker-Hannifin (PH) Tops Q2 EPS by 9c, Revenues Beat; Offers FY19 EPS Guidance

January 31, 2019 7:37 AM EST

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Parker-Hannifin (NYSE: PH) reported Q2 EPS of $2.51, $0.09 better than the analyst estimate of $2.42. Revenue for the quarter came in at $3.47 billion versus the consensus estimate of $3.46 billion.

  • Sales increased 3% to second quarter record $3.47 billion; organic sales increased 6%
  • As reported EPS were $2.36, or $2.51 adjusted
  • Total segment operating margins were a second quarter record at 16.4%
  • Adjusted total segment operating margins were 16.6%, a 170 bps year-over-year improvement
  • EBITDA margins were 17.0%, or 17.2% adjusted
  • Company increases fiscal 2019 full year EPS guidance


For the fiscal year ending June 30, 2019, the company has increased guidance for earnings from continuing operations to the range of $11.04 to $11.54 per share, or $11.35 to $11.85 per share on an adjusted basis. Fiscal year 2019 guidance is adjusted on a pre-tax basis for expected business realignment expenses of approximately $19 million and CLARCOR costs to achieve of approximately $16 million and an income tax expense adjustment of $14 million related to U.S. Tax Reform. Guidance assumes organic sales growth in the range of 2.0% to 4.0%.

Williams added, “Our Win Strategy execution positions us to deliver strong profitability and record earnings in fiscal 2019, despite signs of moderating end market demand and the impact of a stronger U.S. dollar. Completing a record year in fiscal 2019, and ongoing initiatives guided by the Win Strategy, solidifies our confidence in achieving our fiscal 2023 five-year performance goals.”


Parker-Hannifin sees FY2019 EPS of $11.35-$11.85, versus the consensus of $11.52.

For earnings history and earnings-related data on Parker-Hannifin (PH) click here.

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