Parker Hannifin Raises FY21 Outlook - Quick Facts

(RTTNews) - Parker Hannifin raises FY21 Outlook - Quick Facts

While reporting financial results for the second 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 strong first half performance.

For fiscal 2021, the company now projects earnings in a range of $11.90 to $12.40 per share and adjusted earnings in a range of $13.65 to $14.15 per share, assuming organic sales decline in the range of 4.5 to 2.5 percent.

Previously, the company expected earnings in the range of $9.93 to $10.53 per share and adjusted earnings in the range of $11.70 to $12.30 per share, assuming organic sales decline in the range of 8 to 6 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $12.39 per share on a sales decline of 1.7 percent to $13.46 billion for the year. Analysts' estimates typically exclude special items.

"While the outlook for key end markets continues to be uncertain in the current environment, we remain committed to driving improvements through the execution of the Win Strategy and making continued progress toward our long-term financial goals," said Tom Williams, Chairman and Chief Executive Officer.