Parker Hannifin raises full-year adjusted EPS outlook to $31.20
Updated
Updated · MarketWatch · Apr 30
Parker Hannifin raises full-year adjusted EPS outlook to $31.20
11 articles · Updated · MarketWatch · Apr 30
Fiscal third-quarter adjusted EPS was $8.17 on sales of $5.49 billion, beating FactSet forecasts, while net profit fell to $904 million from $961 million.
The motion and control technology maker also projected 7% full-year revenue growth, and chief executive Jenny Parmentier cited a 9% rise in orders and a $12.5 billion backlog.
Backlog growth was driven by the industrial and aerospace businesses, supporting the improved outlook despite lower quarterly profit per share of $7.06 versus $7.37 a year earlier.
Amidst aerospace supply chain chaos, can Parker convert its record $12.5 billion backlog into actual profit?
With soaring stock but high debt and valuation, is Parker Hannifin's impressive growth rally truly sustainable?
How will Parker's multi-billion dollar acquisitions and IoT platform reshape the future of industrial automation?