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Sep 30, 2021
Parker-Hannifin Q1 2022 Earnings Report
Parker-Hannifin reported record first quarter results with sales increasing by 17% and net income increasing by 41%.
Key Takeaways
Parker-Hannifin Corporation reported a record first quarter for fiscal year 2022. Sales increased by 17% to $3.76 billion, and net income increased by 41% to $451.2 million. Earnings per share also increased by 41% to $3.45, while adjusted earnings per share increased by 40% to $4.26.
First quarter records were achieved for sales, segment operating margins, net income, and EPS.
Sales increased 17% to $3.76 billion, with organic sales increasing 16%.
Segment operating margin was 19.7% as reported, or 22.0% adjusted.
Net income was $451.2 million; EPS was $3.45 as reported, or $4.26 adjusted.
Parker-Hannifin
Parker-Hannifin
Parker-Hannifin Revenue by Segment
Revenue by Segment
Aerospace Systems Revenue
CapyFin.com Forward Guidance
For the fiscal year ending June 30, 2022, the company has increased guidance for earnings per share to the range of $14.52 to $15.22, or $16.95 to $17.65 on an adjusted basis. Guidance assumes organic sales growth of approximately 7% to 10% compared with the prior year.
Positive Outlook
- Increased guidance for earnings per share to the range of $14.52 to $15.22.
- Adjusted earnings per share guidance is $16.95 to $17.65.
- Guidance assumes organic sales growth of approximately 7% to 10% compared with the prior year.
- Robust demand trends continue across nearly all of our end markets.
- The transformation of our portfolio and the Win Strategy 3.0 continue to position us to deliver sustainable long-term growth and top quartile performance.
Challenges Ahead
- Fiscal year 2022 guidance is adjusted on a pre-tax basis for acquisition-related expenses of $52 million.
- Expected business realignment expenses of approximately $35 million.
- LORD costs to achieve of approximately $7 million.
- Acquisition-related intangible asset amortization of approximately $320 million.
- Forward-looking statements are subject to unforeseen uncertainties and risks.