Back to top

Image: Bigstock

Parker-Hannifin Corporation

Read MoreHide Full Article

Parker-Hannifin’s first-quarter fiscal 2017 adjusted earnings beat the Zacks Consensus Estimate by 2.6%, and also rose a striking 5.9% from the year-ago quarter tally. Earnings were driven by the new Win Strategy and a fall in the cost of sales. Going forward, the company expects to gain traction from improving demand and incremental savings from its realignment actions. The company is bullish about delivering its fundamental financial goals, thanks to its revamped Win Strategy. However, on the flip side, prolonged sluggishness in the natural resources market, particularly oil and gas, agriculture, mining and construction equipment, as well as softness in key end-markets are proving to be major concerns for the company. Also, strengthening of the U.S. dollar and escalating restructuring charges are expected to hurt the company’s financials in the near term.

In-Depth Zacks Research for the Tickers Above

Normally $25 each - click below to receive one report FREE:

ParkerHannifin Corporation (PH) - free report >>

Published in