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Sep 30, 2023
Parker-Hannifin Q1 2024 Earnings Report
Parker-Hannifin's Q1 2024 performance was marked by record sales and adjusted EPS growth, driven by operational excellence and strategic portfolio management.
Key Takeaways
Parker-Hannifin reported a 15% increase in sales to $4.8 billion for the first quarter of fiscal year 2024. Adjusted earnings per share increased by 26% to $5.96. The company has raised its guidance for fiscal year 2024 based on this strong start.
Sales increased 15% to $4.8 billion.
Organic sales increased 2%.
Adjusted EPS increased 26% to a record $5.96.
Company increased outlook for segment operating margin and EPS.
Revenue by Segment
Forward Guidance
Parker Hannifin updated its outlook for the fiscal year ending June 30, 2024. The company expects total sales growth in the range of 2.5% to 5.5%; total segment operating margin in the range of 20.0% to 20.4%, or 23.4% to 23.8% on an adjusted basis; and earnings per share in the range of $18.73 to $19.53, or $22.60 to $23.40 on an adjusted basis.
Positive Outlook
- Total sales growth expected in the range of 2.5% to 5.5%.
- Adjusted total segment operating margin expected in the range of 23.4% to 23.8%.
- Adjusted earnings per share expected in the range of $22.60 to $23.40.
- Focus remains on being the safest industrial company in the world.
- Priorities coupled with favorable secular growth trends will help accelerate performance.
Challenges Ahead
- Changes in business relationships with major customers, suppliers or distributors.
- Disputes regarding contract terms or significant changes in financial condition.
- Uncertainties surrounding timing, successful completion or integration of acquisitions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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