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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.
Revenue by Segment
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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