Parker-Hannifin (PH) Tops Q4 EPS by 20c; Issues FY20 EPS Outlook

August 1, 2019 7:36 AM EDT
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Price: $309.34 --0%

EPS Growth %: +69.4%

Financial Fact:
Net sales: 2.74B

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Parker-Hannifin (NYSE: PH) reported Q4 EPS of $3.31, $0.20 better than the analyst estimate of $3.11. Revenue for the quarter came in at $3.68 billion versus the consensus estimate of $3.68 billion.

  • Fourth quarter EPS an all-time quarterly record at $3.17 as reported, or $3.31 adjusted
  • Fourth quarter total segment operating margin an all-time quarterly record at 17.4% as reported
  • Full year sales a record at $14.32 billion
  • Full year total segment operating margin a record at 17.0%
  • Full year operating cash flow a record at $1.73 billion
  • Full year EBITDA margin was 17.9% as reported, or 18.2% adjusted
  • Announced two transformational acquisitions expected to add ~$1.5 billion in revenue

“Our strong fourth quarter results contributed to what was an outstanding year for Parker, as we delivered record sales, EPS, net income, total segment operating margin and cash flow from operations," said Chairman and Chief Executive Officer, Tom Williams. "The actions we have taken under The Win Strategy™ to strengthen our business and simplify our operations are driving record financial performance and positions Parker to generate sustainable long-term shareholder value. With the dedication of our global team members, in fiscal 2019 we achieved 17.0% as reported total segment operating margin for the first time in our history, which was a full year ahead of our original target."

GUIDANCE:

Parker-Hannifin sees FY2020 EPS of $11.50-$12.30, versus the consensus of $11.62.

For the fiscal year ending June 30, 2020, the company has issued guidance for earnings per share in the range of $11.38 to $12.18, or $11.50 to $12.30 on an adjusted basis. Fiscal year 2020 guidance is adjusted on a pre-tax basis for expected business realignment expenses of approximately $20 million. Guidance assumes organic sales in the range (3.0%) to 0.0%. The impact from the pending LORD and Exotic Metals acquisitions is not included in fiscal 2020 guidance. A reconciliation of forecasted earnings per share to adjusted forecasted earnings per share is included in the financial tables of this press release.

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



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