Parker Hannifin Boosts FY20 EPS Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Thursday, Parker Hannifin Corp. (PH) raised its earnings and adjusted earnings guidance for the full-year 2020.

For fiscal 2020, the company now projects earnings in a range of $8.78 to $9.38 per share and adjusted earnings in a range of $10.25 to $10.85 per share, assuming organic sales decline in the range of 7.6 to 5.1 percent.

Previously, the company expected earnings in the range of $8.53 to $9.33 per share and adjusted earnings in a range of $10.10 to $10.90 per share, assuming organic sales decline in the range of 7.5 to 4.5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $10.68 per share on a sales growth of 0.8 percent to $14.44 billion for the year. Analysts' estimates typically exclude special items.

"The actions we have taken under the Win Strategy to strengthen our operations have positioned Parker for a strong second half of fiscal 2020," said Chairman and Chief Executive Officer, Tom Williams.