Free Research Report as Parker-Hannifin’s Net Sales Surged 23%; Adjusted EPS Soared 40%
Stock Monitor: NF Energy Saving Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 13, 2017 / Active-Investors free earnings report on Parker-Hannifin Corp. (NYSE: PH) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=PH. Parker-Hannifin reported its first quarter 2018 operating results on November 02, 2017. The maker of motion and control products outperformed top- and bottom-line expectations and also raised its guidance for the fiscal year. Register today and get free access to our complimentary member's area where many more reports are available:
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Active-Investors.com is currently working on the research report for NF Energy Saving Corporation (NASDAQ: NFEC), which also belongs to the Industrial Goods sector as the Company Parker-Hannifin. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Parker-Hannifin most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
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Earnings Highlights and Summary
Parker-Hannifin's Q1 FY18 sales surged 23% to $3.36 billion compared to $2.74 billion in Q1 FY17. The Company's revenue numbers exceeded analysts' expectations of $3.31 billion.
For Q1 FY18, Parker-Hannifin's net income increased 36% to $285.5 million compared to $210.2 million in Q1 FY17. The Company's reported earnings per share increased 36% to $2.10 compared to $1.55 in the year ago same period. During the reported quarter, the Company recognized a lower effective tax rate on a y-o-y basis, due primarily to tax benefits related to stock option activity, resulting in a favorable impact to earnings of $0.12 per share.
Parker-Hannifin's earnings per share increased 40% to $2.24 when adjusted for business realignment expenses, CLARCOR costs, and a loss related to the sale of an investment, compared to earnings per share of $1.61 in the prior year's same quarter, which was adjusted for business realignment expenses. The Company's earnings beat Wall Street's estimates of $2.02 per share.
Parker-Hannifin's Segment Results
During Q1 FY18, the Diversified Industrial segment's sales in the North American region soared 37% on a y-o-y basis to $1.6 billion, while operating income increased 28% to $256.0 million compared to $200.6 million in the prior year's same quarter.
The segment's International sales advanced 22% to $1.2 billion in the reported quarter, and operating income increased 40% to $191.8 million compared to $137.2 million in the year ago corresponding period.
For Q1 FY18, Parker-Hannifin's Aerospace Systems segment's sales totaled $531.2 million compared to $561.2 million in Q1 FY17. The segment's operating income grew 6% to $77.4 million compared to $73.3 million in the year earlier same quarter.
Order Summary
For the quarter ending September 30, 2017, the Company's orders increased 11% on a y-o-y basis for total Parker. The Company's orders advanced 10% on a y-o-y basis in the Diversified Industrial North America businesses, and 15% in the Diversified Industrial International businesses. Parker-Hannifin's orders grew 4% in the Aerospace Systems segment on a rolling 12-month average basis
Cash Matters
Fiscal year-to-date, Parker-Hannifin's net cash provided by operating activities was $239.0 million, or 7.1% of sales, compared to $113.9 million, or 4.2% of sales, in the prior year's same period. The Company's operating cash to sales was 12.2% in the prior year's same period excluding discretionary pension contributions.
Outlook
For the fiscal year ending June 30, 2018, Parker-Hannifin raised its guidance for earnings from continuing operations to the range of $8.45 to $9.05 per share, or $9.10 to $9.70 per share on an adjusted basis. The Company's FY18 guidance is adjusted on a pre-tax basis for the reported loss on investment of approximately $14 million, expected business realignment expenses of approximately $58 million and CLARCOR costs of approximately $52 million.
Stock Performance Snapshot
December 12, 2017 - At Tuesday's closing bell, Parker-Hannifin's stock slightly dropped 0.04%, ending the trading session at $191.86.
Volume traded for the day: 703.51 thousand shares.
Stock performance in the last month – up 5.28%; previous three-month period – up 14.24%; past twelve-month period – up 35.53%; and year-to-date – up 37.04%
After yesterday's close, Parker-Hannifin's market cap was at $25.55 billion.
Price to Earnings (P/E) ratio was at 24.62.
The stock has a dividend yield of 1.38%.
The stock is part of the Industrial Goods sector, categorized under the Industrial Equipment & Components industry. This sector was flat at the end of the session.
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