Parker-Hannifin Corporation (PH - Free Report) is slated to report fourth-quarter fiscal 2022 results on Aug 4, before market open.
The Zacks Consensus Estimate for the company’s fourth-quarter fiscal 2022 earnings has been revised downward by 4.5% in the past 90 days. However, 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 8.8%.
Let’s see how things are shaping up for Parker-Hannifin this earnings season.
Factors to Note
Improving orders and recovery in commercial aerospace end markets are likely to have aided Parker-Hannifin’s second-quarter performance. Higher orders are likely to have driven revenues in the Diversified Industrial North America segment. The Zacks Consensus Estimate for Diversified Industrial North America segment's net sales indicates a 10.3% increase from the year-ago reported figure.
However, high cost of sales and selling, general and administrative expenses might have impacted Parker-Hannifin’s bottom line in the to-be-reported quarter. Given the company’s substantial international exposure, foreign-exchange woes might have hurt performance.
Adversities from supply-chain woes and high costs are likely to have been partly offset by PH’s effective pricing and supply-chain management actions. This may have supported its margin performance in the to-be-reported quarter.
What Does the Zacks Model Say?
Our proven model does not conclusively predict 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 chances of beating estimates, which is not the case here, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Parker-Hannifin has an Earnings ESP of -0.86% as the Most Accurate Estimate is pegged at $4.63, below the Zacks Consensus Estimate of $4.67. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Parker-Hannifin carries a Zacks Rank #3.
Highlights of Q3 Earnings
Parker-Hannifin reported third-quarter fiscal 2022 (ended Mar 31, 2022) adjusted earnings of $4.83 per share, which surpassed the Zacks Consensus Estimate of $4.61. Net sales of $4,086.4 million also outperformed the Zacks Consensus Estimate of $4064 million. Higher orders at the Diversified Industrial North America segment aided results.
Stocks to Consider
Here are some companies within the broader Industrial Products sector that you may want to consider, as according to our model, these have the right combination of elements to beat on earnings this reporting cycle.
Zebra Technologies (ZBRA - Free Report) has an Earnings ESP of +2.15% and a Zacks Rank #3. The company is scheduled to release second-quarter 2022 earnings numbers on Aug 2.
The Zacks Consensus Estimate for Zebra Technologies’ second-quarter earnings has remained steady over the past 60 days. ZBRA’s earnings have trumped the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 8.8%.
MRC Global (MRC - Free Report) has an Earnings ESP of +30.27% and a Zacks Rank #1. The company is set to release second-quarter 2022 results on Aug 8.
The Zacks Consensus Estimate for MRC Global’s second-quarter earnings has been revised upward by 13.6% in the past 60 days. MRC’s earnings have surpassed the Zacks Consensus Estimate in three of the preceding four quarters while meeting estimates in one. The average surprise was 140.8%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Parker-Hannifin Corporation (PH - Free Report) is slated to report fourth-quarter fiscal 2022 results on Aug 4, before market open.
The Zacks Consensus Estimate for the company’s fourth-quarter fiscal 2022 earnings has been revised downward by 4.5% in the past 90 days. However, 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 8.8%.
Let’s see how things are shaping up for Parker-Hannifin this earnings season.
Factors to Note
Improving orders and recovery in commercial aerospace end markets are likely to have aided Parker-Hannifin’s second-quarter performance. Higher orders are likely to have driven revenues in the Diversified Industrial North America segment. The Zacks Consensus Estimate for Diversified Industrial North America segment's net sales indicates a 10.3% increase from the year-ago reported figure.
However, high cost of sales and selling, general and administrative expenses might have impacted Parker-Hannifin’s bottom line in the to-be-reported quarter. Given the company’s substantial international exposure, foreign-exchange woes might have hurt performance.
Adversities from supply-chain woes and high costs are likely to have been partly offset by PH’s effective pricing and supply-chain management actions. This may have supported its margin performance in the to-be-reported quarter.
What Does the Zacks Model Say?
Our proven model does not conclusively predict 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 chances of beating estimates, which is not the case here, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Parker-Hannifin has an Earnings ESP of -0.86% as the Most Accurate Estimate is pegged at $4.63, below the Zacks Consensus Estimate of $4.67. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Parker-Hannifin carries a Zacks Rank #3.
Highlights of Q3 Earnings
Parker-Hannifin reported third-quarter fiscal 2022 (ended Mar 31, 2022) adjusted earnings of $4.83 per share, which surpassed the Zacks Consensus Estimate of $4.61. Net sales of $4,086.4 million also outperformed the Zacks Consensus Estimate of $4064 million. Higher orders at the Diversified Industrial North America segment aided results.
Stocks to Consider
Here are some companies within the broader Industrial Products sector that you may want to consider, as according to our model, these have the right combination of elements to beat on earnings this reporting cycle.
Zebra Technologies (ZBRA - Free Report) has an Earnings ESP of +2.15% and a Zacks Rank #3. The company is scheduled to release second-quarter 2022 earnings numbers on Aug 2.
The Zacks Consensus Estimate for Zebra Technologies’ second-quarter earnings has remained steady over the past 60 days. ZBRA’s earnings have trumped the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 8.8%.
MRC Global (MRC - Free Report) has an Earnings ESP of +30.27% and a Zacks Rank #1. The company is set to release second-quarter 2022 results on Aug 8.
The Zacks Consensus Estimate for MRC Global’s second-quarter earnings has been revised upward by 13.6% in the past 60 days. MRC’s earnings have surpassed the Zacks Consensus Estimate in three of the preceding four quarters while meeting estimates in one. The average surprise was 140.8%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
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