Parker Hannifin Boosts FY21 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Thursday, Parker Hannifin Corp. (PH) raised its earnings, adjusted earnings and organic sales growth guidance for the full-year 2021, based on its year-to-date performance and a positive outlook.

For fiscal 2021, the company now projects earnings in a range of $12.96 to $13.26 per share and adjusted earnings in a range of $ $14.65 to $14.95 per share, assuming flat organic sales.

Previously, the company expected earnings in the range of $11.90 to $12.40 per share and adjusted earnings in the range of $13.65 to $14.15 per share, assuming organic sales decline in the range of 4.5 to 2.5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $14.19 per share on a sales growth of 2.9 percent to $14.05 billion for the year. Analysts' estimates typically exclude special items.

"Our increased guidance reflects strong year-to-date performance and a positive outlook for macroeconomic conditions as we enter the fourth quarter of this fiscal year," said Tom Williams, Chairman and CEO.