Parker-Hannifin Lifts Annual Earnings Outlook Above View; Stock Up Nearly 6% In Pre-Market

(RTTNews) - 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.