Parker Hannifin Shares Rise After FY27 Outlook Beats Estimates

Dow Jones08-06 22:18

Shares of Parker Hannifin were higher after the manufacturing company's fiscal 2027 outlook beat analyst estimates, as fourth-quarter revenue and profit increased.

The stock was up 9.3% at $1,089.98 in recent trading, and was 24% higher since the start of the year.

The company posted net income of $1.09 billion, or $8.54 a share, compared with $923 million, or $7.15 a share, a year earlier.

Sales rose 9.8% to $5.76 billion. Analysts polled by FactSet had expected $5.57 billion.

Chief Executive Jenny Parmentier said the company enhanced its interconnected technologies through strategic acquisitions and operational excellence.

For fiscal 2027, the company projected sales growth between 5.5% and 8.5% and adjusted earnings per share between $34.25 and $35.25. Analysts polled by FactSet are expecting adjusted earnings per share of $34.05

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment