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Parker-Hannifin Corporation

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Parker-Hannifin’s second-quarter fiscal 2016 adjusted earnings surpassed the Zacks Consensus Estimate but fell short of the year-ago quarter tally. The weak bottom-line performance was largely led by tepid sales growth, which was driven by foreign currency-related headwinds and weakness in key end markets. Going forward, the company expects weak end markets and strong currency headwinds to continue weighing on its financial performance. However, the renewed “Win Strategy” is expected to combat these challenges and drive growth. The company’s robust financial health, strategic acquisitions and diligent capital deployment strategies add to its strength. This apart, Parker-Hannifin’s global restructuring initiatives have significantly improved its end-market position.

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