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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 12.4%.
Let’s see how things have shaped up for Parker-Hannifin’s fiscal first-quarter earnings.
Parker-Hannifin Corporation Price and EPS Surprise
Steady demand across end markets and higher orders are expected to drive Parker-Hannifin’s fiscal first-quarter results.
The Diversified Industrial segment is benefiting from increased productivity & supply-chain improvement in the North American region and productivity improvement and cost-control measures in the international region. The Zacks Consensus Estimate for net sales in the Diversified Industrial North America segment indicates a 5.9% increase from the year-ago reported figure. The same for Diversified Industrial International segment implies a 4.8% increase from the year-ago reported number.
Robust original equipment manufacturer (OEM) and Maintenance, Repair and Operations (MRO) commercial activity are expected to drive Aerospace Systems segment revenues in the to-be-reported quarter. The September 2022 acquisition of Meggitt plc has strengthened the segment, expanding its presence in the UK. The Zacks Consensus Estimate for Aerospace segment revenues hints at an approximate 62% jump from the year-ago reported number.
However, the escalating cost of sales due to raw material cost inflation and foreign currency headwinds may affect Parker-Hannifin’s results in the soon-to-be-reported quarter.
Earnings Whispers
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 odds of an earnings beat, which is not the case here, as elaborated below.
Earnings ESP: Parker-Hannifin has an Earnings ESP of -1.23% as the Most Accurate Estimate is pegged at $5.26, lower than the Zacks Consensus Estimate of $5.33. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: Parker-Hannifin presently carries a Zacks Rank of 3.
Highlights of Q4 Earnings
Parker-Hannifin reported fourth-quarter fiscal 2023 adjusted earnings of $6.08 per share, which beat the Zacks Consensus Estimate of $5.50. The bottom line jumped 17.8% year over year. Total revenues of $5,095.9 million outperformed the Zacks Consensus Estimate of $5,008.9 million. The top line jumped 21.7% year over year. Contribution from the Meggitt acquisition and operational improvement drove the company’s top line.
Stocks to Consider
Here are some companies within the broader Industrial Products sector, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
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Will Cost Headwinds Mar Parker-Hannifin's (PH) Q1 Earnings?
Parker-Hannifin Corporation (PH - Free Report) is slated to release first-quarter fiscal 2024 (ended Sep 30, 2023) results on Nov 2, 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 12.4%.
Let’s see how things have shaped up for Parker-Hannifin’s fiscal first-quarter earnings.
Parker-Hannifin Corporation Price and EPS Surprise
Parker-Hannifin Corporation price-eps-surprise | Parker-Hannifin Corporation Quote
Factors to Note
Steady demand across end markets and higher orders are expected to drive Parker-Hannifin’s fiscal first-quarter results.
The Diversified Industrial segment is benefiting from increased productivity & supply-chain improvement in the North American region and productivity improvement and cost-control measures in the international region. The Zacks Consensus Estimate for net sales in the Diversified Industrial North America segment indicates a 5.9% increase from the year-ago reported figure. The same for Diversified Industrial International segment implies a 4.8% increase from the year-ago reported number.
Robust original equipment manufacturer (OEM) and Maintenance, Repair and Operations (MRO) commercial activity are expected to drive Aerospace Systems segment revenues in the to-be-reported quarter. The September 2022 acquisition of Meggitt plc has strengthened the segment, expanding its presence in the UK. The Zacks Consensus Estimate for Aerospace segment revenues hints at an approximate 62% jump from the year-ago reported number.
However, the escalating cost of sales due to raw material cost inflation and foreign currency headwinds may affect Parker-Hannifin’s results in the soon-to-be-reported quarter.
Earnings Whispers
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 odds of an earnings beat, which is not the case here, as elaborated below.
Earnings ESP: Parker-Hannifin has an Earnings ESP of -1.23% as the Most Accurate Estimate is pegged at $5.26, lower than the Zacks Consensus Estimate of $5.33. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: Parker-Hannifin presently carries a Zacks Rank of 3.
Highlights of Q4 Earnings
Parker-Hannifin reported fourth-quarter fiscal 2023 adjusted earnings of $6.08 per share, which beat the Zacks Consensus Estimate of $5.50. The bottom line jumped 17.8% year over year. Total revenues of $5,095.9 million outperformed the Zacks Consensus Estimate of $5,008.9 million. The top line jumped 21.7% year over year. Contribution from the Meggitt acquisition and operational improvement drove the company’s top line.
Stocks to Consider
Here are some companies within the broader Industrial Products sector, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
Stanley Black & Decker (SWK - Free Report) has an Earnings ESP of +1.84% and a Zacks Rank #2. The company is scheduled to release third-quarter results on Oct 27. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stanley Black pulled off a trailing four-quarter earnings surprise of 47.2%, on average. The stock has gained 2.7% in the past six months.
Tenaris (TS - Free Report) has an Earnings ESP of +1.42% and a Zacks Rank #3. The company is slated to release third-quarter results on Nov 1.
Tenaris delivered a trailing four-quarter earnings surprise of 7.7%, on average. The stock has rallied 14.3% in the past six months.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.