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Sep 30, 2020
Parker-Hannifin Q1 2021 Earnings Report
Parker Hannifin reported a decrease in sales but an increase in adjusted earnings per share for the first quarter of fiscal year 2021.
Key Takeaways
Parker Hannifin reported first quarter sales of $3.23 billion, a decrease from $3.33 billion in the prior year quarter. Net income was $321.4 million, compared to $338.9 million in the first quarter of fiscal 2020. Adjusted earnings per share increased to $3.07, compared to $3.05 in the same period last year. The company increased its fiscal year 2021 full year guidance.
First quarter EPS were $2.47 as reported, or $3.07 adjusted.
First quarter total segment operating margin was 16.8% as reported, or 19.9% adjusted.
First quarter EBITDA margin was 19.5% as reported, or 20.1% adjusted.
Cash flow from operations was a first quarter record at $737.4 million, reaching 22.8% of sales.
Revenue by Segment
Forward Guidance
For the fiscal year ending June 30, 2021, the company has increased guidance for earnings per share to the range of $9.93 to $10.53, or $11.70 to $12.30 on an adjusted basis. Guidance assumes an organic sales decline in the range of 9% to 6%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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