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The company has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 11.8%.
Let’s see how things have shaped up for Parker-Hannifin’s fiscal second-quarter earnings.
Factors to Note
Strength across end markets and higher orders are expected to have driven Parker-Hannifin’s fiscal second-quarter performance.
The company’s Diversified Industrial segment is expected to have benefited from higher demand for its products across the oil and gas, material handling, farm and agriculture end markets in the North American region and strength in Europe and Latin America within the international region.
The Zacks Consensus Estimate for net sales in the Diversified Industrial North America segment is pegged at $2,168 million, indicating a 1.3% increase from the year-ago reported figure. The consensus estimate for the Diversified Industrial International segment, which is pinned at $1,393 million, relatively flat year-over-year.
Solid momentum in Parker-Hannifin’s commercial and military aftermarket businesses is expected to have buoyed the Aerospace Systems segment’s revenues in the to-be-reported quarter. The acquisition of Meggitt plc in September 2022 strengthened the segment, expanding its presence in the U.K. The Zacks Consensus Estimate for the Aerospace segment’s revenues is pegged at $1,271 million, suggesting an 11.9% jump from the year-ago reported number.
Benefits from the Win Strategy, which focuses on innovation, strategic positioning and pricing actions, are expected to have aided PH’s margins in the to-be-reported quarter. The Zacks Consensus Estimate for Parker-Hannifin’s fiscal second-quarter total revenues is pegged at $4,825 million, indicating year-over-year growth of 3.2%. The consensus estimate for the company’s earnings is pegged at $5.24, suggesting year-over-year growth of 10.1%.
However, the escalating operating costs and expenses due to rising input costs and foreign currency headwinds might have an adverse impact on Parker-Hannifin’s results in the fiscal second quarter.
Parker-Hannifin Corporation Price and EPS Surprise
Our proven model suggests an earnings beat for Parker-Hannifin this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here, as elaborated below.
Earnings ESP: Parker-Hannifin has an Earnings ESP of +0.58% as the Most Accurate Estimate is pegged at $5.27, higher than the Zacks Consensus Estimate of $5.24. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: Parker-Hannifin presently carries a Zacks Rank #2.
Other Stocks With the Favorable Combination
Here are a few other companies that, according to our model, have the right combination to beat on earnings this reporting cycle:
Graco Inc. (GGG - Free Report) currently has an Earnings ESP of +4.87% and a Zacks Rank #2. The company is scheduled to release fourth-quarter results on Jan 29. You can see the complete list of today’s Zacks #1 Rank stocks here. Graco pulled off a trailing four-quarter earnings surprise of 7.2%, on average.
Ingersoll Rand plc (IR - Free Report) has an Earnings ESP of +0.98% and a Zacks Rank #3. The company is slated to release fourth-quarter results on Feb 15. IR delivered a trailing four-quarter earnings surprise of 16.1%, on average.
Xylem Inc. (XYL - Free Report) has an Earnings ESP of +1.40% and a Zacks Rank #3. The company is slated to release fourth-quarter results on Feb 6. Xylem delivered a trailing four-quarter earnings surprise of 14.4%, on average.
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Parker-Hannifin (PH) to Post Q2 Earnings: Is a Beat in Store?
Parker-Hannifin Corporation (PH - Free Report) is slated to release second-quarter fiscal 2024 (ended Dec 31, 2023) results on Feb 1, before market open.
The company has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 11.8%.
Let’s see how things have shaped up for Parker-Hannifin’s fiscal second-quarter earnings.
Factors to Note
Strength across end markets and higher orders are expected to have driven Parker-Hannifin’s fiscal second-quarter performance.
The company’s Diversified Industrial segment is expected to have benefited from higher demand for its products across the oil and gas, material handling, farm and agriculture end markets in the North American region and strength in Europe and Latin America within the international region.
The Zacks Consensus Estimate for net sales in the Diversified Industrial North America segment is pegged at $2,168 million, indicating a 1.3% increase from the year-ago reported figure. The consensus estimate for the Diversified Industrial International segment, which is pinned at $1,393 million, relatively flat year-over-year.
Solid momentum in Parker-Hannifin’s commercial and military aftermarket businesses is expected to have buoyed the Aerospace Systems segment’s revenues in the to-be-reported quarter. The acquisition of Meggitt plc in September 2022 strengthened the segment, expanding its presence in the U.K. The Zacks Consensus Estimate for the Aerospace segment’s revenues is pegged at $1,271 million, suggesting an 11.9% jump from the year-ago reported number.
Benefits from the Win Strategy, which focuses on innovation, strategic positioning and pricing actions, are expected to have aided PH’s margins in the to-be-reported quarter. The Zacks Consensus Estimate for Parker-Hannifin’s fiscal second-quarter total revenues is pegged at $4,825 million, indicating year-over-year growth of 3.2%. The consensus estimate for the company’s earnings is pegged at $5.24, suggesting year-over-year growth of 10.1%.
However, the escalating operating costs and expenses due to rising input costs and foreign currency headwinds might have an adverse impact on Parker-Hannifin’s results in the fiscal second quarter.
Parker-Hannifin Corporation Price and EPS Surprise
Parker-Hannifin Corporation price-eps-surprise | Parker-Hannifin Corporation Quote
Earnings Whispers
Our proven model suggests an earnings beat for Parker-Hannifin this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here, as elaborated below.
Earnings ESP: Parker-Hannifin has an Earnings ESP of +0.58% as the Most Accurate Estimate is pegged at $5.27, higher than the Zacks Consensus Estimate of $5.24. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: Parker-Hannifin presently carries a Zacks Rank #2.
Other Stocks With the Favorable Combination
Here are a few other companies that, according to our model, have the right combination to beat on earnings this reporting cycle:
Graco Inc. (GGG - Free Report) currently has an Earnings ESP of +4.87% and a Zacks Rank #2. The company is scheduled to release fourth-quarter results on Jan 29. You can see the complete list of today’s Zacks #1 Rank stocks here. Graco pulled off a trailing four-quarter earnings surprise of 7.2%, on average.
Ingersoll Rand plc (IR - Free Report) has an Earnings ESP of +0.98% and a Zacks Rank #3. The company is slated to release fourth-quarter results on Feb 15. IR delivered a trailing four-quarter earnings surprise of 16.1%, on average.
Xylem Inc. (XYL - Free Report) has an Earnings ESP of +1.40% and a Zacks Rank #3. The company is slated to release fourth-quarter results on Feb 6. Xylem delivered a trailing four-quarter earnings surprise of 14.4%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.