Parker-Hannifin (PH) Tops Q1 EPS by 5c, Lowers FY16 EPS Guidance

Parker-Hannifin (NYSE: PH) reported Q1 EPS of $1.52, $0.05 better than the analyst estimate of $1.47. Revenue for the quarter came in at $2.87 billion versus the consensus estimate of $2.94 billion.

Parker-Hannifin sees FY2016 EPS of $5.80-$6.40, versus the consensus of $6.67.

Fiscal year 2016 guidance is adjusted for expected business realignment expenses of approximately $0.50 per share, of which $0.30 per share relates to the company’s Simplification initiatives.

Williams added, “The change in our guidance largely reflects continued weakening in our end markets as evidenced by deteriorating order trends. We also do not expect any meaningful recovery in our markets through the end of our fiscal year. Aggressive actions are well underway to align our costs with the realities of current conditions. Looking forward, the continued execution of the new Win StrategyTM will help to position us to achieve new financial and operational performance targets designed to positively impact our customers and our shareholders."

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

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