Parker-Hannifin Q1 2024 Earnings Report
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.
Parker-Hannifin
Parker-Hannifin
Parker-Hannifin 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.
- Potential supply chain and labor disruptions, including as a result of labor shortages.
- Global economic factors, including manufacturing activity, air travel trends and currency exchange rates.