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Jun 30, 2023
Parker-Hannifin Q4 2023 Earnings Report
Parker-Hannifin's Q4 2023 results were reported, showcasing record sales and adjusted EPS, driven by the strength of the aerospace business and operational improvements.
Key Takeaways
Parker-Hannifin reported a record fourth quarter with sales of $5.1 billion, a 22% increase year-over-year. Adjusted earnings per share reached a record of $6.08, and the company reduced debt by $846 million during the quarter. The aerospace business showed remarkable growth, contributing significantly to the overall strong performance.
Sales increased 22% to a record $5.1 billion; organic sales increased 6%.
Total segment operating margin was 22.1%, or a record 24.0% adjusted.
EPS were $5.44, or a record of $6.08 adjusted.
Debt reduction of $846 million was achieved in the quarter.
Revenue by Segment
Forward Guidance
Parker expects total sales growth in the range of 3% to 6%; total segment operating margin in the range of 19.7% to 20.1%, or 23.0% to 23.4% on an adjusted basis; and earnings per share in the range of $18.05 to $19.05, or $21.90 to $22.90 on an adjusted basis for fiscal year 2024.
Positive Outlook
- Total sales growth in the range of 3% to 6%
- Total segment operating margin in the range of 19.7% to 20.1%, or 23.0% to 23.4% on an adjusted basis
- Earnings per share in the range of $18.05 to $19.05, or $21.90 to $22.90 on an adjusted basis
- Opportunities to accelerate performance through execution of the Win StrategyTM 3.0
- Continued progress toward fiscal 2027 financial targets
Historical Earnings Impact
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Avg. Return Before/After Earnings
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