Parker-Hannifin (PH) Tops Q3 EPS by 25c, Beat on Revenues; Raise FY Guidance

Parker-Hannifin (NYSE: PH) reported Q3 EPS of $2.11, $0.25 better than the analyst estimate of $1.86. Revenue for the quarter came in at $3.12 billion versus the consensus estimate of $3.04 billion.

• Third quarter sales increased 10% to $3.12 billion, organic sales increased 6%, order rates increased 8%
• Total segment operating margins strong at 14.8% as reported
• 16.1% adjusted segment operating margins, a year-over-year increase of 140 bps
• EPS increased 28% to $1.75, or an increase of 40% to $2.11, on an adjusted basis
• Year-to-date operating cash flow strong at 9.2%, or 11.8% of sales excluding pension contribution
• CLARCOR acquisition completed and integration underway to capture meaningful synergies
• Fiscal 2017 full year earnings guidance increased

GUIDANCE:

Parker-Hannifin sees Q4 2017 EPS of $7.70-$8.00, versus the consensus of $7.53.

For the fiscal year ending June 30, 2017, the company has increased guidance for earnings from continuing operations to the range of $6.90 to $7.20 per share, or $7.70 to $8.00 per share on an adjusted basis. Fiscal year 2017 guidance is adjusted for expected business realignment expenses of approximately $0.25 per share and acquisition related expenses of approximately $0.55 per share. Full fiscal year 2017 earnings guidance has been updated to include acquisitions.

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

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