01.02.2024 14:20:16 - dpa-AFX: Parker-Hannifin Lifts Annual Earnings Outlook Above View; Stock Up Nearly 6% In Pre-Market
WASHINGTON (dpa-AFX) - Parker-Hannifin Corporation (PH), a maker of motion
and control systems, on Thursday announced in its second-quarter earnings report
that it has revised up its full-year earnings guidance.
For the full year, the company now expects net income per share of $20 to $20.60
against its previous outlook of $18.73 to $19.53.
Excluding items, PH now projects income per share of $23.90 to $24.50, higher
than its earlier outlook of $22.60 to $23.40.
On average, 19 analysts polled by Thomson Reuters expect the company to register
income per share of $23.3, for the year. Analysts' estimates typically exclude
special items.
The equipment maker now expects an annual total sales growth of 3 percent to 5
percent against its previous outlook of 2.5 percent to 5.5 percent.
Analysts, on average, expect the firm to report revenue of $19.92 billion, for
the year.
PH was trading up by $5.89 percent at $491.86 per share in the pre-market trade
on the New York Stock Exchange.
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