Parker-Hannifin (PH) Misses Q4 EPS by 44c, FY16 Guidance Falls Short
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Parker-Hannifin (NYSE: PH) reported Q4 EPS of $1.43, $0.44 worse than the analyst estimate of $1.87. Revenue for the quarter came in at $3.14 billion versus the consensus estimate of $3.19 billion.
Parker-Hannifin sees FY2016 EPS of $6.65-$7.35, versus the consensus of $7.69.
"We anticipate continued end market weakness in fiscal year 2016," commented Williams. "Sales are expected to be down slightly and our results will be influenced by ongoing business realignment actions designed to drive efficiencies, streamline our operations and better serve our customers. We also continue to position Parker for future growth. To focus our efforts, we are finalizing a comprehensive refresh of the Win Strategy, which is targeted at driving top quartile financial performance and returns among our industrial peer companies. We are excited about our opportunities to strengthen our leadership position and look forward to sharing the refreshed Win Strategy publicly in September during our Investor Day."
For earnings history and earnings-related data on Parker-Hannifin (PH) click here.
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