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Parker-Hannifin (PH) Q4 Earnings & Revenues Top Estimates
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Cleveland, Ohio-based Parker-Hannifin Corporation (PH - Free Report) is a prominent built-up components & equipment company, conducting trade in the global industrial goods sector. The company produces control and motion technologies as well as systems that are traded across different aerospace, industrial and mobile marketplaces located around the world.
Prolonged sluggishness in natural resources market that includes oil and gas, agriculture, mining and construction equipment are proving to be a major concern for the company. Softness in key end-markets has adversely impacted order levels for the past few quarters. Also, restructuring expenses and strengthening of the U.S. dollar are adding to the company’s woes.
Despite these negatives, PH’s “Win Strategy,” which aims to measure excellence of customer service through efficient business and cash management schemes, continues to be one of its major strengths.
In the last four trailing quarters, PH has reported a positive average earnings surprise of 3.6%, beating the estimates thrice.
Currently, PH has a Zacks Rank #4 (Sell) but that could change following its fourth-quarter fiscal 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: PH beat on earnings. Adjusted Earnings per share came in at $1.90, comfortably beating the Zacks Consensus Estimate of $1.77.
Revenue: Revenues of $2,957.1 million also surpassed the Zacks Consensus Estimate of $2,937 million.
Key Stats: During the fourth-quarter of fiscal 2016, Parker-Hannifin repurchased approximately $108 million of Parker shares bringing the total repurchases for fiscal 2016 to approximately $558 million.
Stock Price: PH shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on this PH earnings report later!
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Parker-Hannifin (PH) Q4 Earnings & Revenues Top Estimates
Cleveland, Ohio-based Parker-Hannifin Corporation (PH - Free Report) is a prominent built-up components & equipment company, conducting trade in the global industrial goods sector. The company produces control and motion technologies as well as systems that are traded across different aerospace, industrial and mobile marketplaces located around the world.
Prolonged sluggishness in natural resources market that includes oil and gas, agriculture, mining and construction equipment are proving to be a major concern for the company. Softness in key end-markets has adversely impacted order levels for the past few quarters. Also, restructuring expenses and strengthening of the U.S. dollar are adding to the company’s woes.
Despite these negatives, PH’s “Win Strategy,” which aims to measure excellence of customer service through efficient business and cash management schemes, continues to be one of its major strengths.
In the last four trailing quarters, PH has reported a positive average earnings surprise of 3.6%, beating the estimates thrice.
Currently, PH has a Zacks Rank #4 (Sell) but that could change following its fourth-quarter fiscal 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: PH beat on earnings. Adjusted Earnings per share came in at $1.90, comfortably beating the Zacks Consensus Estimate of $1.77.
Revenue: Revenues of $2,957.1 million also surpassed the Zacks Consensus Estimate of $2,937 million.
PARKER HANNIFIN Price and EPS Surprise
PARKER HANNIFIN Price and EPS Surprise | PARKER HANNIFIN Quote
Key Stats: During the fourth-quarter of fiscal 2016, Parker-Hannifin repurchased approximately $108 million of Parker shares bringing the total repurchases for fiscal 2016 to approximately $558 million.
Stock Price: PH shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on this PH earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>