Parker-Hannifin (PH) Tops Q1 EPS by 58c, Offers Guidance

Parker-Hannifin (NYSE: PH) reported Q1 EPS of $4.26, $0.58 better than the analyst estimate of $3.68. Revenue for the quarter came in at $3.76 billion versus the consensus estimate of $3.64 billion.

GUIDANCE:

Parker-Hannifin sees FY2022 EPS of $16.95-$17.65, versus the consensus of $16.90.

• For the fiscal year ending June 30, 2022, the company has increased guidance for earnings per share to the range of $14.52 to $15.22, or $16.95 to $17.65 on an adjusted basis. Guidance assumes organic sales growth of approximately 7% to 10% compared with the prior year. Fiscal year 2022 guidance is adjusted on a pre-tax basis for acquisition-related expenses of $52 million and expected business realignment expenses of approximately $35 million, LORD costs to achieve of approximately $7 million and acquisition-related intangible asset amortization of approximately $320 million. A reconciliation of forecasted earnings per share to adjusted forecasted earnings per share is included in the financial tables of this press release.
• Williams added, “Robust demand trends continue across nearly all of our end markets reinforcing our positive outlook for sales and earnings per share for this fiscal year. The transformation of our portfolio and the Win Strategy 3.0 continue to position us to deliver sustainable long-term growth and top quartile performance."

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

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